CAR29R2 first explicitly stated that in the design of composite rotor blades, the effects of damage on stiffness, dynamic behavior, loads, and functional characteristics must be considered. Therefore, studying the impact of damage on blade dynamic characteristics has significant practical importance. Focusing on common delamination and perforation damage in composite blades, a rotor aeroelastic coupling dynamic analysis model was established using Hamilton’s theory. The dynamic characteristics of undamaged blades were analyzed using an eigenvalue solution method. Based on this, the effects of perforation damage at different airfoil locations on blade dynamic characteristics were studied. The results indicate that perforation damage at the leading edge has the greatest impact on blade stiffness, but isolated perforation damage minimally affects blade dynamic characteristics. The study’s conclusions provide important guidance for rotor airworthiness certification work.