In this work a new approach to surface roughness parameters estimation during finish cylindrical end milling is presented. The proposed model includes the influence of cutting parameters, the tool’s static run out and dynamic phenomena related to instantaneous tool deflections. The modeling procedure consists of two parts. In the first stage, tool working part instantaneous displacements are estimated using an analytical model which considers tool dynamic deflections and static errors of the machine – tool-holder – tool system. The obtained height of the tool’s displacement envelope is then applied in the second stage to the calculation of surface roughness parameters. These calculations assume that in the cylindrical milling process, two different mechanisms of surface profile formation exist. Which mechanism is present is dependent on the feed per tooth and the maximum height of the tool’s displacement envelope. The developed model is validated during cylindrical milling of hardened hot-work tool steel 55NiCrMoV6 using a stylus profiler and scanning laser vibrometer over a range of cutting parameters. The surface roughness values predicted by the developed model are in good agreement with measured values. It is found that the employment of a model which includes only the effect of static displacements gives an inferior estimation of surface roughness compared to the model incorporating dynamic tool deflections