This paper presents the analytical modeling, modal testing, and finite-element model updating for a two-span masonry arch bridge. An Ottoman masonry arch bridge built in the 19th century and located at Camlihemsin, Rize, Turkey is selected as an example. Analytical modal analysis is performed on the developed 3D finite-element model of the bridge to obtain dynamic characteristics. The ambient vibration tests are conducted under natural excitation such as human walking. The operational modal analysis is carried out using peak picking method in the frequency domain and stochastic subspace identification method in the time domain, and dynamic characteristics (natural frequencies, mode shapes, and damping ratios) are determined experimentally. Finite-element model of the bridge is updated to minimize the differences between analytically and experimentally estimated dynamic characteristics by changing boundary conditions. At the end of the study, maximum differences in the natural frequencies are reduced on average from 18 to 7% and a good agreement is found between analytical and experimental dynamic characteristics after finite-element model updating.