The transient process can be accurately simulated using a dynamic ball bearing model. This paper proposed a dynamic model including thermo-elastohydrodynamic lubrication (TEHL) to investigate high-speed angular contact ball bearings. In this model, TEHL considering the spinning and the non-Newtonian effect was used to calculate the contact force and the friction force. The results showed that the gyroscopic moment of the ball increased in conjunction with a higher load when the axial load remained constant. Furthermore, the sliding speed and film temperature increased significantly in conjunction with a sudden decrease in the axial load from 800 N to 400 N in 3 ms due to an abrupt decline in the friction moment, while the gyroscopic moment was delayed.