Chatter problems occurring during high speed milling affect the quality of the finished workpiece and, to a lesser extent, the tool life and the spindle life. Therefore, the prediction of stable milling regions is a critical requirement for high speed milling operations. In this paper, a dynamic model of a high speed spindle system considering the multi-mode dynamics is elaborated for the purposed of stability prediction. A stability lobes diagram (SLD) shows the boundary between chatter-free machining operations and unstable processes, in terms of axial depth of cut as a function of spindle speed. These diagrams are used to select chatter-free combinations of machining parameters. The proposed method enables a new stability lobes diagram to be established that takes into account the effect of spindle speed on multi-mode dynamic behavior.