In order to better understand the nonlinear dynamics behavior of the high speed spindle-holder system based on the Timoshenko beam theory, a spindle-holder system model that includes rotary inertia, shear and eccentricity is established by utilizing finite element methods. The nonlinear effects caused by bearings and the interface of spindle and holder have also been taken into account. The results of numerical analysis show that the system exhibits rich nonlinear dynamical behavior, including periodic motion, periodic-doubling motion and chaotic motion. The main route that results in system chaos is period doubling bifurcation. Under a certain amount of eccentricities, the system will eventually produce chaotic motion after several times of period-doubling bifurcation. Such parameters should be avoided in the actual design process.