The aim of this study is to present the dynamic behavior of a symmetric laminated composite beam with localized elastic supports. The dynamic response of a clamped-clamped composite beam to a moving point load with constant velocity is calculated by using the finite element method. A three-dimensional finite element model based on the classical lamination theory is used in order to define the structural stiffness. The Newmark integration method that is widely used in structural dynamics is employed in order to calculate the dynamic response of the beam. The finite element vibration analyses are performed by a computer program written in MATLAB. The dynamic magnification, which is defined as the ratio between the dynamic and the static displacements, is obtained for different load velocities, ply orientations, and spring locations. The effect of the spring number in the elastic foundation on the dynamic magnification is also investigated. The results reported in this article show that load velocity, ply orientation, and the location of the elastic support have significant effect on the dynamic response, especially for [45/-45](s) and (2s) lay-ups.