Stick-slip is very harmful to the service life of drillstring. The extended Hamilton principle is applied in the paper. Then, finite element method (FEM) is employed to describe the model. The drillstring-borehole impact and friction, fluid-structure interaction, bit-rock interaction, and gravity are considered in this model. The influence of axial and torsional excitation on stick-slip is analyzed. The nonlinear motion predicted by the model is consistent with the observation results in the experiments. The research shows that the fluctuation amplitude of the bit angular velocity also increases along with the increase of driving angular velocity (torsional excitation). However, both the ratio of the maximum angular velocity of the stick-slip vibration and the fluctuation of the angular velocity are continuously reduced. Meanwhile, the strength of the stick-slip vibration has a tendency to slow down. As the axial load (axial excitation) increases, the fluctuation of the maximum angular speed of the stick-slip vibration does not change significantly, but the smaller load causes a smaller stick duration.