Due to the crack′s open-close process, the stiffness and damping of cracked blades change along with time-varying character. The accurate time-varying physical parameters are obtained to modeling and fault diagnosis. A new method for parameter identification in creaked blades based on the Hilbert transform is is proposed. The dynamic behavior of the cracked beam first-order bending vibration is is simulated using a simple single degree of freedom lumped parameter system under harmonic excitation. Here, an experimental system is designed, and the Hilbert transform method is presented to identify the time-varying stiffness and damping based on the system excitation and the response data. The experimental results of time-varying stiffness and damping verify that this method is effective. The original physical parameter model is modified based on the experimental results. The change of parameters′estimation in the new model is obtained in different conditions. The conclusion is that the response characteristics calculated by the numerical method using this modified model is consistent with the experiment.