The phenomenon of short-wavelength rail corrugation occurs on the curved track after the operation of a metro line in China. The dynamic characteristics of track with different fasteners were tested by hammer stroke. The three-dimensional solid finite element model of wheel-rail is established by ABAQUS, and the wheel-rail coupled modal characteristics and the track frequency response characteristics under white noise excitation are analyzed. Based on the experimental and simulation results, the correlation between the dynamic characteristics of wheel-rail structure and the short-wavelength rail corrugation is analyzed. The results show that the main wavelengths of ordinary rail fasteners and vibration-damping fastener rails are 30~63 mm and 40~50 mm. Under the white noise excitation, the sensitive resonant frequencies of the two tracks in the range of 450~920 Hz and 570~720 Hz are consistent with the train passing the rail corrugation frequency (454~954 Hz and 572~715 Hz). The generation of short-wavelength corrugation of track is mainly related to the high-frequency inherent characteristics of the track structure. The short-wavelength corrugation passing frequency of tracks is similar to the wheel-rail coupling mode frequency. The mode shape is represented by the bending and torsion of the wheelset, accompanied by the vertical bending vibration of the rail relative to the track plate. The high-frequency modal characteristics of wheel-rail coupling will aggravate the development of short-wavelength corrugation.