At present, the commonly used hot rolling model is only applicable to the static rolling process. However, to study the dynamic rolling process, a dynamic rolling model with roll vertical movement velocity parameters is required. In this study, the influence of the vertical movement velocity of the rolls on the rolling process is considered, and a dynamic rolling process model is proposed when the roll gap is reduced during the hot rolling dynamic rolling process. Mathematically, the model is based on the upper limit method. The model considers the influence of the dynamic rolling process on the length of the deformation zone, establishes a dynamic velocity field model and an average deformation rate model, and then solves the total power of the rolling process. Finally, the dynamic rolling force equation is given. Compared with the experimental results, the dynamic rolling model in this paper has high accuracy with an average error of 4%. In addition, the influence of roll vertical velocity on rolling parameters is discussed, which provides a basis for the study of the dynamic rolling process.