With the development of large-scale new energy, the wind–thermal bundled system transmitted via high-voltage direct current (HVDC) has become the main method to solve the problem of wind power consumption. At the same time, the problem of subsynchronous oscillation among wind power generators, high-voltage direct current (HVDC), and synchronous generators (SGs) has become increasingly prominent. According to the dynamic interaction among doubly fed induction generators (DFIGs), HVDC, and SGs, a linearization model of DFIGs and SGs transmitted via HVDC is established, and the influence of the electromagnetic transient of wind turbines and HVDC on the electromechanical transient processes of SGs is studied. Using the method of additional excitation signal injection, the influence of the main factors of DFIG on the damping characteristics of each torsional mode of SG is analyzed, including control parameters and operation conditions when the capacity of HVDC is fixed. The mechanism of the negative damping torsional of SGs is identified. A time-domain simulation model is built in Electromagnetic Transients including DC/Power Systems Computer Aided Design (EMTDC/PSCAD) to verify the correctness and effectiveness of the theoretical analysis.