To address the limitation of neglecting loss mechanisms in studies of the dynamic magnetoelectric response of magnetoelectric transducers, a dynamic magnetoelectric analysis model is developed. Based on the theoretical model of quasi-static magnetoelectric transducers, the equivalent circuit under resonant conditions and the corresponding dynamic magnetoelectric formulation are theoretically derived. Within this framework, magnetic, mechanical, and electrical losses in the vicinity of resonance are systematically analyzed, and their respective physical models are established according to their underlying mechanisms. Comparative results indicate that mechanical dissipation is the dominant loss mechanism at resonance, while the contributions of magnetic losses in the magnetostrictive layer and electrical losses in the piezoelectric layer are relatively minor. The theoretical predictions of the resonant magnetoelectric voltage coefficient and resonant frequency are validated against experimental data, confirming the accuracy of the proposed model. In addition, COMSOL-based simulations are performed to obtain the magnetoelectric coefficient characteristics, and vibration analyses near resonance are conducted to examine the dynamic behavior of the transducer. The results demonstrate that the proposed model can accurately describe the magnetoelectric response of the transducer in the resonant regime.