The dynamics and vibration characteristics of a 3-UPU parallel mechanism isolator are investigated by theoretical modeling, numerical simulation, and experimental study. The system consists of two platforms, three linear motors, and the Hook hinges. Firstly, the dynamical mathematical model of this vibration isolator is innovatively established and solved by using the discrete-time transfer matrix method of the multibody system (MS-DT-TMM). According to the modeling principle, the transfer matrix of each component is derived, including the upper and lower platforms, Hooke hinges, and linear motors. Then, the dynamical equation of the overall system is obtained by multiplying all transfer matrices. Secondly, the solution of equation is calculated through the setting of boundary conditions. The numerical simulation is carried out according to the known parameters. The dynamical and vibration analysis of the isolation platform is performed, involving the displacement and force characteristics of the branches. Furthermore, in view of the fact that the Hooke hinges and linear motors are simplified as spatial elastic hinges in modeling. The vibration suppression effect caused by adjusting spring stiffness and damping coefficient is discussed. The simulation results verified the correctness of the MS-DT-TMM method through the comparison with ADAMS simulation results. Finally, the prototype of the vibration isolator is constructed and assembled, and the vibration experiment is conducted. By testing the responses of the isolation device mounted on the vibration table, the natural frequency of the isolator is obtained. The purpose of this experiment is to avoid resonance when it is applied as a vibration isolator in the future. This paper provides a theoretical basis for the later vibration research and control scheme design of the 3-UPU parallel vibration isolation platform.