In the present work, an effective identification methodology bearing dynamic parameters using measured vibration responses at the bearing is proposed. The flexible rotor is analyzed by using finite element beam model with nonlinear hydrodynamic bearing forces due to floating ring bearing supports. The frequency domain responses at different operating speeds are initially obtained in both the lateral directions. The error function is formulated as an average difference in amplitudes of two lateral displacements at a bearing node with known reference signals over a frequency range. The design variables are the speed dependent direct and cross-coupled stiffness and damping parameters of the bearing. With the side constraints on the variables, the error is minimized by using a modified particle swarm optimization scheme. The accuracy of the approach is tested with noisy input signals. © 2019 Rajasekhara Reddy Mutra, et al.