In this study, based on the lumped-parameter theory and the Lagrange approach, a novel and generalized bending-torsional-axial coupled dynamic model for analyzing the load sharing behavior in the herringbone planetary gear train (HPGT) is presented by taking into account the actual structure of herringbone gears, manufacturing errors, time-dependent meshing stiffness, bearing deflections, and gyroscopic effects. The model can be applied to the analysis of the vibration of the HPGT with any number of planets and different types of manufacturing errors in different floating forms. The HPGT equivalent meshing error is analyzed and derived for the tooth profile errors and manufacturing eccentric errors of all components in the HPGT system. By employing the variable-step Runge–Kutta approach to calculate the system dynamic response, in conjunction with the presented calculation approach of the HPGT load sharing coefficient, the relationships among manufacturing errors, component floating, and load sharing are numerically obtained. The effects of the combined errors and single error on the load sharing are, respectively, discussed. Meanwhile, the effects of the support stiffness of the main components in the HPGT system on load sharing behavior are analyzed. The results indicate that manufacturing errors, floating components, and system support stiffness largely influence the load sharing behavior of the HPGT system. The research has a vital guiding significance for the design of the HPGT system.