Wire rope is a complex structure made by twisting wires of various sizes in the longitudinal direction. It is used to support or move engineering structures and is subject to various tensions. Dynamic properties are important parameters to evaluate the resistance to bending deformation and vibration reduction of various structures. They are affected by the magnitude of tension. In this study, an experimental method for measuring the frequency-dependent characteristics of wire rope under tension is proposed. The study analyzed flexural wave propagation employing a vibration transfer function. Experimental results showed that the transfer function of wire rope under tension is affected by tension and bending stiffness. The Newton–Raphson method was employed to numerically measure wavenumbers of the wire rope. The bending stiffness and loss factor were determined from the wavenumbers. Changes in the bending stiffness and loss factor as the tension increased were explained by the dynamic behavior of the structure under tension. As the tension increased, the bending stiffness increased, and the loss factor decreased. Hysteresis analysis indicated that the energy dissipation of wire rope is greater than that of a steel beam due to the friction between the wires. Statistical analysis confirmed a significant correlation between dynamic characteristics and tension in wire rope.