The bent-blade cutter is widely used in machining typical deep-cavity parts such as turbine discs and disc shafts, but few scholars have studied the dynamics of the turning process. The existing mechanism of regenerative chatter in the metal-cutting process does not consider the influence of bending and torsional vibration, the change of tool profile and the complex machining geometry, so it cannot be directly used to reveal the underlying cause of the chatter phenomena in the deep inner cavity part turning process. This paper attempts to investigate the dynamic problem of the bent-blade cutter turning process. The dynamic model of a bent-blade cutter is proposed by considering the regenerative chatter effect. Based on the extended Timoshenko beam element (E-TBM) theory and finite element method (FEM), the coupling between the bending vibrations and the torsional vibrations, as well as the dynamic cutting forces, are modeled along the turning path. The vibration characteristics of the bending–torsion combination of cutter board and cutter bar, together with the dynamical governing equation, were analyzed theoretically. The chatter stability of a bent-blade cutter with a bending and torsion combination effect is predicted in the turning process. A series of turning experiments are carried out to verify the accuracy and efficiency of the presented model. Furthermore, the influence of cutting parameters on the cutting process is analyzed, and the results can be used to optimize the cutting parameters for suppressing machining vibration and improving machining process stability.