This paper aims to investigate the contact characteristics and static load carrying capacity of planetary roller screw mechanism (PRSM). Compared to the ball screw mechanism, the advantages of the PRSM are high stiffness, high load capacity, long travel life and compact structure, etc., since the PRSM possesses more contact points than ball screws in a comparable size. The actuated load is carried through the threaded surface contacts of the screw, the rollers and the nut and the contact characteristics of these components are very important for studying the wear, transmission accuracy and efficiency of a PRSM. Prior work has neglected to take a fundamental approach towards understanding the elastic-plastic contact characteristics of threaded surfaces under high loads and it is closely related to the static load carrying capacity of PRSM. Accordingly, in this paper, the contact characteristics of PRSM under the different working loads are modeled based on Hertz contact theory and the calculation formulas between normal force of thread turns and the elastic-plastic contact stress and deformation are derived. Then, it goes further to derive a calculation method of static load carrying capacity of PRSM based on simplified model of static load distribution. Finally, a verification model is developed by finite element method (FEM) to perform contact stress and strain analysis of PRSM. Besides, through the comparison of the results between the theory model and ANSYS Workbench finite element model verify the reliability of the theory.