A dent is a typical defect found in oil and gas pipelines and poses a significant threat to their safety and integrity. In this study, the buckling behavior and limit strain capacity of pipelines with kinked dents under bending moment loads were investigated. First, four-point bending tests of full-scale pipelines with kinked dents were conducted in a laboratory, and the critical buckling load and strain response of the pipelines during buckling failure were tested. The test results revealed that the existence of kinked dents, specifically those with large depths, could weaken the bending resistance of the pipelines. During the buckling process of the pipeline, a considerable compressive strain was generated at the bottom center of the dent, which was considerably higher than the strain value at the corresponding position of the intact pipeline. However, the strain at both axial sides of the dent gradually changed from compressive strain at the initial bending stage to tensile strain after buckling failure. Then, nonlinear finite element (FE) models of buckling failure for pipelines with kinked dents under bending moment loads were developed, and the reliability of the FE models was verified through comparison with the test results. In addition, a parametric sensitivity study was conducted to determine the effect of parameters, such as dent depth, dent angle, diameter-to-thickness ratio of the pipe, and yield ratio of the pipe steel, on the compressive strain capacity of the pipeline. Finally, based on a large number of FE simulation results, a model for predicting the buckling compressive strain capacity of pipelines with kinked dents was developed, which can be used for evaluating buckling instability failure of pipelines with kinked dents subjected to bending moment loads.