The high-speed impact of liquid droplets on blades in wet steam region seriously affects the safe operation of steam turbine. For blade stability and response characteristics, most studies utilized ideal gas as working medium and few studies focused on the role of droplets in the flow field. In this study, both the distribution information of droplet particles in the flow field and the impact of droplet particles on blades were comprehensively considered. First, the droplet distribution at the last stage inlet was calculated, and then the droplet-wall interaction model was determined and loaded into calculation process. The pressure distribution on blade surface, blade force variation, mechanical properties, and further dynamic response characteristics of blade were analyzed with ideal gas and wet steam models, respectively, by using one-/two-way fluid-structure interaction. Results show that the blade displacement of leading and trailing edges under wet steam model reaches the maximum at near 80% blade height, and there is a low frequency amplitude corresponding to 460 Hz–470 Hz with the peak value in the range of 22Pa–26Pa. The variations of the maximum displacement and maximum equivalent stress of the blade with time are more intense under wet steam model compared with those under ideal gas model.