This study aims at the comparative analysis and improvement of different analytical crack models for rotating blade. Part II of this study focuses on the comparative analysis of dynamic characteristics based on modified models mentioned in Part I. A nonlinear damage indicator (NDI) and an equivalent energy indicator (EEI) are introduced to characterize the nonlinear effect of crack from different perspectives. EEI offers a physical mechanism explanation of crack closing behavior, which is invisible. Meanwhile, NDI offers an observable indicator to quantify the nonlinearity of crack. It is demonstrated through the numerical study that the variation of NDI and EEI varies the same with each other, which cross-verified the validity of NDI and EEI for quantifying the nonlinear effect of crack. Comparative investigations are performed to analyze the effects of load amplitude, crack depth, and crack location on the nonlinear dynamics of cracked blade, and both NDI and EEI are utilized to quantify the nonlinear effects of crack. The comparative results suggest that NDI of the second-order super-harmonic component increases with the increasing crack depth and excitation load amplitude and decreases with the increasing crack locations, while the variation of EEI follows the variation of NDI. This phenomenon indicates that the crack, which is deeper and closer to blade root under a larger load will be more dangerous. This study’s comparative results may provide some guidance for choosing the analytical crack models when analyzing the nonlinear dynamics of rotating cracked blade and blade health monitoring.