A general methodology for dynamic modeling and analysis of deep groove ball bearing used in the crank-slider mechanism of punching machine is presented in this paper. The time-varying loads applied at the inner ring of this bearing can be obtained by analyzing the planar multibody systems. The bearing joint has been modeled by introducing a nonlinear constraint force system, which takes into account the contact stiffness interaction between the rolling elements and the raceways. The four-degree-of-freedom dynamic equations for the inner and outer rings of the bearings is established by Newton's second law. By numerical calculation, the variations of the load, trajectory, FFT frequency domain response, and x direction phase trajectory and Poincare of the inner ring, and the contact force on each ball element are discussed. The results indicate that the present methodology can not only be used to analyze the overall dynamic behavior of crank-slider mechanism and the deep groove ball bearing used in punching machine, but also to obtain the dynamic loads of the inner ring and ball in bearing. Therefore, the dynamic loads on ball elements can provide a basis for the strength checking, fatigue life calculation and wear analysis of the deep groove ball bearing.