The researchers and scientists have concluded that material dynamic fracture properties must be considered during the design stage of the modern structure. The dynamic stress intensity factor is very important in understanding of material dynamic behavior. Keeping in view the importance of the materials dynamic stress intensity factor: an efficient and reliable numerical-analytical procedure is developed for calculation of dynamic stress intensity factor. For this, three-dimensional model of a Modified Hopkinson Pressure Bar (MHPB) and a specimen is modeled and analyzed with the ANSYS software. Transient dynamic analysis technique is used for simulation of load-variations as a function of time. As an output of analysis, values of load point displacement and Crack Mouth Opening Displacement (CMOD) are obtained. These values are substituted into two different analytical formulas for calculation of a dynamic stress intensity factor. The results obtained are compared with previous published results, and a good agreement is found.