Ballasted track is under the circumstance of repetition of deterioration and recovery. Track deterioration is presented as track irregularity or settlement, and dynamic force subjected to track is one of major cause of the deterioration. The dynamic force is determined from the dynamic interaction between track and vehicle. Rail-pad stiffness is one of the factor affects track dynamic property. In this study, the relationship between rail-pad stiffness and track settlement was investigated. Dynamic forces according to various rail-pad stiffness was obtained from the dynamic vehicle-track interaction analysis using DARTS-NL. Track settlement was calculated by substitution the dynamic forces into various formulas for track settlement. From the result of analysis, it was known that the track settlement is increased about 6% when the rail-pad stiffness rise about twice. And this result leads that there is only a little relationship between rail-pad stiffness and track settlement.