In this paper, the rotational vibration of a belt drive system with a dry friction tensioner subjected to multiple harmonic excitations is studied. The work is focused on the impact of the dry friction torque combined with the multiexcitation frequencies on dynamic characteristics of the system. An analytical solution procedure is developed for the first time to predict two kinds of periodic responses of the system, i.e., nonstop and one-stop motion characterized by the nonstick and stick-slip vibration of the tensioner arm in the system, respectively. Utilizing this method, parametric studies are carried out to obtain the frequency response of a prototypical belt drive system subjected to harmonic excitations from both the driving and driven pulleys. It is found that the tensioner Coulomb friction torque has a significant impact on the amplitude response of the system—it reduces the vibration amplitude of the tensioner arm, but for other components in the belt system it can either decrease or increase the amplitudes under different situations. Furthermore, if the excitation frequency from the driving pulley is larger than or equal to that from the driven pulley, the system vibration amplitudes are much larger than those under the opposite condition.