A general analysis has been done to investigate the static and dynamic performance of short wavy journal bearing. Reynolds equation is solved for both steady-and unsteady-state operations. The steady-state analysis has been done and compared with circular bearing with respect to their load capacity, fl ow rate, pressure distribution and friction factor. The unsteady-state analysis has been used to determine the rotor dynamic coeffi cients for various eccentricity ratios. These coeffi cients are used to determine the stability parameters, such as critical mass and whirl ratio, and prove that wave bearing has not only better load carrying capacity but also provides better stability at high speed than circular bearing.