A study was conducted to analyze the influence of wheel profile wear on running stability by using a 1/5 scale bogie model. The critical speed was analyzed by constructing a dynamic model for the bogie model. And the 1/5 scale bogie and a scaled roller rig prototype were manufactured to verify the feasibility of applying the scale model; a critical speed test was conducted for worn wheel profile samples. The test results for the scale model were consistent with the simulation results for the scale model within the range of 5% or less. Also, the variation of the critical speed of the scale model for the wheel profile wear shows a similar trend with the analysis results of the full scale model. Therefore, using the scale model to analyze the influence of wheel profile wear on running stability shows sufficient feasibility as a model to analyze the stability of a full scale bogie.