The presented work examines the dynamic behavior of an asymmetric rotor with asymmetric flexible disk, contrary to previous works on the subject, where researchers examined the effect of either rigid disk asymmetry or disk flexibility at a time. Account for the asymmetry of flexible disk in rotors constitutes the new contribution in this work. The suggested mathematical model combines Lagrangian approach with Rayleigh–Ritz method to derive the governing equations of motion of the rotor. Account for asymmetry of the flexible disk results in complicated and lengthy expressions for the potential and kinetic energies of the rotor, required in the adopted Lagrangian approach. Using symbolic computation simplified the derivation of the governing equations of motion with constant coefficients in terms of rotating coordinate system. Solution of the resulting eigenvalue problem provided numerical results for rotors with symmetric and asymmetric flexible disks, required to assess the effect of disk flexibility and asymmetry on the resulting frequencies and stability boundaries of the examined rotor system.