In this report dynamic friction characteristics of paper-based friction material subjected to vibratory loading were examined experimentally. Dynamic friction characteristics were expressed in the form of complex friction coefficient which was defined as the frequency response function of friction force with respect to normal force. As a result of experiment the amplitude of complex friction coefficient decreased and its phase angle became negative with the exciting frequency increased, which indicates that under dynamic condition friction force arises behind normal force and its amplitude is reduced. This phenomenon is decided as an effect of weeping of lubricant at sliding surface, which was confirmed by measuring deformation change of the material under vibratory loading and by calculating complex friction coefficient considering poroelastic properties of the material and load sharing between solid and fluid at sliding surface.