The identification of joint dynamic characteristic parameters is one of the most important parts of machine tool dynamic analysis. To satisfy the dynamic design requirements for a precision horizontal machining center in an enterprise class application, an optimum identification method was proposed by the integration of the modal test data of a linear guideway with the finite element analysis. Adopting the modal frequencies and damping ratios as the optimum objectives, the method conducted optimum calculations on the dynamic parameters of the guideway joint using the Armijo rule based Quasi-Newton BFGS algorithm in a Matlab-Ansys integrated environment. Optimized results showed that the method proposed is of good quality of convergence, and their precision meets the requirements of engineering applications.