Underground chambers or tunnels often contain inclusions, the interface between the inclusion and the surrounding rock is not always perfect, which influences stress wave propagation. In this study, the imperfect interface and transient seismic wave were represented using the spring model and Ricker wavelet. Based on the wave function expansion method and Fourier transform, an analytical formula for the dynamic stress concentration factor (DSCF) for an elliptical inclusion with imperfect interfaces subjected to a plane SH-wave was determined. The theoretical solution was verified via numerical simulations using the LS-DYNA software, and the results were analyzed. The effects of the wave number (k), radial coordinate (ξ), stiffness parameter (β), and differences in material properties on the dynamic response were evaluated. The numerical results revealed that the maximum DSCF always occurred at both ends of the elliptical minor axis, and the transient DSCF was generally a factor of 2–3 greater than the steady-state DSCF. Changes in k and ξ led to variations in the DSCF value and spatial distribution, changes in β resulted only in variations in the DSCF value, and lower values of ωp and β led to a greater DSCF under the same parameter conditions. In addition, the differences in material properties between the medium and inclusion significantly affected the variation characteristics of the DSCF with k and ξ.