The acoustic emission phenomena generated by the laser welding process are closely related to the keyhole's forced oscillation and the dynamic pressure balance at the keyhole bottom. In this study, we constructed the mechanical equation of keyhole bottom pressure balance and used the “electro-mechano-acoustical” analogy theory to convert it into an acoustic equation, the acoustic resonant frequency as well as the magnification amplification factor of the keyhole oscillation in different penetration states were derived. A monitoring platform combining acoustic sensor and high-speed photography was established to obtain acoustic emission signals and lateral keyhole images. The acoustic and image features extracted from the monitoring data validated the derived formulas. Additionally, the acoustic phenomena of different frequency-energy components were explained according to the derived formulas in turn. The results demonstrated that the derived theory is compatible with experimental comparisons, showcasing its great interpretability and applicability. The introduced analogy theory effectively establishes a bridge between keyhole forced pressure and acoustic emission vibration, aiding in the understanding of keyhole oscillation characteristics. A novel model of keyhole oscillation was proposed and verified using process monitoring data in this study, which provides a new approach for the investigation of keyhole dynamic.