For the diagnosis of looseness-rubbing coupling fault of rotor-sliding bearing system caused by bolt looseness fault, the mechanical model and finite element model of dual-disc rotor system with looseness-rubbing coupling fault are established based on the nonlinear finite element method, nonlinear oil film force, looseness stiffness model, and Hertz contact theory. With the augmented Lagrange method, contact constraint conditions are dealt with to ensure that the rotary disk and casing contact with each other meeting boundary penetrating depth within the prescribed tolerance range. And then the dynamics characteristics of the health rotor system supported by sliding bearing are studied. Combined with experimental study and simulation analysis, it is found that the looseness-rubbing coupling fault is often characterized by rubbing fault, the lower part of the time-domain fluctuated shape is denser, while the upper part is relatively loose, and multiple nested half ellipse is shown in orbit diagram. Because of the loosing stiffness and rubbing force, the phenomenon of unstable oil film is depressed. The appearance of the first-and second-order oil film oscillation phenomenon is delayed. It could be used as a theoretical basis for diagnosing looseness-rubbing coupling fault of rotor-sliding bearing system.