To develop an angular contact ball bearing with low power consumption, a heat generation calculation model for angular contact ball bearings has been established based on bearing quasi dynamics, elastohydrodynamic lubrication theory, heat transfer theory, and Kirchhoff’s law of energy conservation, considering the effects of roundness error, bearing preload, centrifugal effect, and thermal expansion. The correctness of the model is verified through experiments. The influence of different operating conditions and roundness errors on the thermal characteristics of angular contact ball bearings is analyzed. The results of the calculation indicate that when the roundness error order is equal to the number of balls n/2 ± 2 (where n = 1, 2, 3, …), the overall heat generation of the bearing is lower than that without considering the roundness error. When the roundness error order is equal to (2n − 1)/4 ± 2 (where n = 1, 2, 3, …), the overall heat generation of the bearing is higher than that without considering the roundness error. At the same rotating speed, the overall heat generation fluctuates as the roundness error order changes, and the trend becomes more pronounced as the rotating speed increases. The maximum overall heat generation is achieved when the roundness error order equals (2n − 1)/4 times (where n = 1, 2, 3, …) the number of balls. When the roundness error order is equal to n/2 times the number of balls (where n = 1, 2, 3, …), the bearing’s overall heat generation is minimal. The variation in the total heat generated by the bearing is directly proportional to the amplitude of the roundness error. With the increase in roundness error harmonic order, the bearing integral heat generation shows a periodic change, and the change period has a mapping relationship with the number of balls.