Abnormal vibration of the roll system seriously affects the quality of the rolled product and even the occurrence of strip breakage. There are many reasons for roll system vibration, such as roll damage, roll bearing failure, and fluctuations in rolling parameters. Especially for 20-roll high-precision ultra-thin strip mills, a key condition for strip rolling is to apply substantial inlet and outlet tension, with the impact of tension fluctuation increasing as the strip becomes thinner. In this paper, firstly, a dynamic rolling force model that accounts for tension fluctuations and vertical vibrations is established. Subsequently, a vertical vibration dynamics equation for the roll system of the twenty-high rolling mill was established. Then the rolling force model was substituted into the dynamics equation to investigate the relationship between tension fluctuations and roll system vibrations. The results indicate that: (1) Tension fluctuations can cause vibrations in the roll system. With the same fluctuation amplitude, the amplitude of the roller system vibration caused by the inlet tension can reach 10 times the amplitude of the roller system vibration caused by the outlet tension; (2) The vibration amplitude is affected by both the tension magnitude and the fluctuations amplitude and it is mainly influenced by the tension fluctuation when the tension magnitude changes are not significant; (3) Fluctuations in inlet and outlet tension will reduce the damping term and stiffness term, respectively, which increases the main resonance amplitude. Finally, the effectiveness of the model is verified by the experiment. The average inaccuracy between the simulated and measured vibration amplitudes is 13 %.