To explore the dynamic characteristics of through arch bridges using carbon fiber reinforced polymer (CFRP), a through arch bridge in China was taken as the research background, and its ANSYS finite element model was established. According to the principle of equal ultimate tension of suspenders, steel suspenders were replaced by CFRP suspenders to analyze the dynamic characteristics and response of CFRP suspenders under the vehicle load condition. The results show that the first-order natural vibration mode of the arch bridge with CFRP suspenders is the same as that of the arch bridge with steel suspenders, which is first-order symmetrical lateral bending of arch rib and first-order antisymmetric vertical bending of main beam. The difference between the first-order natural frequencies of their arch ribs is only 0.24%, and that for their main beam is only 0.07%. Under vehicle load, the peak stress of the suspenders near the loading lane is more than three times that of the suspenders far away from the loading lane, and the dynamic response of the suspenders is related to the loading position of the vehicle. Under the same vehicle load condition, the CFRP suspenders and the steel suspenders exhibit a consistent change law of the time-history response of stress, but the stress peak of the CFRP suspenders is generally 10% larger than that of the steel suspenders. While the arch bridge with CFRP suspenders does not show largely different dynamic performance compared with the arch bridge with steel suspenders, CFRP suspenders are expected to fundamentally solve the problems of corrosion and fracture faced by steel suspenders due to the characteristics of high strength, light weight, and corrosion resistance of CFRP.