In this paper, the vehicle track tunnel coupling dynamic model is established by using finite element software, and the model is verified. Based on this, the vibration characteristics of the vehicle and track system caused by the settlement of the tunnel foundation are studied. The calculation results show that: (1) the short wave in the tunnel settlement wavelength has a great influence on the dynamic characteristics of vehicles and track structures, and the vibration characteristics of vehicle track system decrease with the increase of wavelength, so it is suggested to control the wavelength above 25 m. (2) The dynamic index of the vehicle and track increases significantly with the increase of amplitude, which affects the driving stability and track operation. Through calculation, it is recommended to control the amplitude below 20 mm. (3) The influence of tunnel base settlement on driving is related to speed. The greater the train speed is, the greater the influence on driving will be. So the train speed should be controlled. (4) Higher running speed will endanger the safety of train operation and the stability of the track structure, so the train running speed should be lower than 200 km/h. The above research provides some theoretical guidance for track maintenance and operation.