One of the challenges in micromilling processing is chatter, an unstable phenomenon which has a larger impact on the microdomain compared to macro one. The minimization of tool chatter is the key to good surface quality in the micromilling process, which is also related to the milling tool and the milling structure system dynamics. Frequency response function (FRF) at micromilling tool point describes dynamic behavior of the whole micromilling machine-spindle-tool system. In this paper, based on receptance coupling substructure analysis (RCSA) and the consideration of rotational degree-of-freedom, tool point frequency response function of micromilling dynamic system is obtained by combining two functions calculated from beam theory and obtained by hammer testing. And frequency response functions solved by Timoshenko's and Euler's beam theories are compared. Finally, the frequency response function is identified as the modal parameters, and the modal parameters are transformed into equivalent structural parameters of the physical system. The research work considers the difference of theoretical modeling between the micromilling and end-milling tool and provides a base for the dynamic study of the micromilling system.