This paper investigates the effect of water in the dynamic response of large trash-racks used in hydropower plants. These are large structures that are fully submerged in water and located in the hydraulic circuits to prevent debris and large bodies from entering the turbine. These structures are prone to suffering fatigue damage. Broken bars are rather common, which can produce damage in the turbine and other hydraulic components. To avoid fatigue problems, the trash-racks must be designed to avoid coincidence between the excitation frequencies of vortex shedding and the natural frequencies of the trash rack. Therefore, it is of paramount importance to know which are the natural frequencies and the associated mode-shapes, so as to avoid fluid–structure coupling (lock-in), which can lead to high vibration levels. Finite element models, including the surrounding mass of water, are used for this study. The methodology is applied to two existing trash-racks by calculating the modal parameters and using the numerical finite element model. An experimental investigation is also carried out in one of the trash-racks by impacting the underwater grille and measuring the response using submergible accelerometers. Experimental modal analysis is utilized to extract the modal characteristics of the actual trash rack. There is a good agreement between the numerical and the experimental results. With the validated model, the effects of fluid added mass and damping on the dynamic response of both trash-racks are evaluated and discussed in order to extract some common conclusions.