The present invention provides a suspension system test apparatus capable of realizing dynamic loading. According to the suspension system test apparatus, four hydraulic servo oil cylinders are used as excitation oil cylinders to load a frame, and therefore, compared with the prior art, the suspension system test apparatus is simpler and more convenient to operate, can realize a dynamic loading experiment and a static loading experiment, is suitable for the dynamic characteristic test and static characteristic test of a suspension system and can assist in shortening an experimental period and saving manpower and material resources; the lower ends of the excitation oil cylinders are connected with a bottom rack through hinges, and the upper ends of the excitation oil cylinders are connected with the frame through universal connection modes such as spherical hinges or universal joints, and therefore, requirements of the degree of freedom of the frame in the dynamic loading experiment can be satisfied; and when the frame needs forward-backward excitation or leftward-rightward excitation, a first excitation shaft or a second excitation shaft is made to operate, and therefore, the frame only performs pitching or rolling motion.