In this study, the dynamic characteristics of a catenary system and pantograph supplying electrical power to high-speed trains are investigated. One of the most important issues accompanied by increasing the speed of high-speed rail is stabilization of current collection. To stabilize current collection, it is necessary the contact force between the catenary and the pantograph to be kept continuous without loss of contact. The analytical model of a catenary and a pantograph is constructed to simulate the behavior of an actual system. The analysis of the catenary based on the Finite Element Method (FEM) is performed to develop a catenary model suitable for high speed operation. The reliability of the models is verified by the comparison of the excitation test with Fast Fourier Transform (FFT) data of the actual system. The static deflection of the catenary, stiffness variation in contact lines, dynamic response of the catenary undergoing constant moving load, contact force, and each state of the pantograph model were calculated. It is confirmed that a catenary and pantograph model are necessary for studying the dynamic behavior of the pantograph system.