The 2D computational fluid dynamics (CFD) model of transmission conductor is set up to simulate the aerodynamic forces varying with time on the conductor. Taking into account the geometrical nonlinearity of conductor lines, the finite element (FE) models of single span and two-span transmission lines discretized with beam elements are established. By means of the FE models, the aeolian vibrations of the conductor lines excited by the aerodynamic forces under different wind velocities are numerically simulated. The nonlinear resonant characteristics, the amplitude-frequency relations of the conductor lines during aeolian vibration are investigated, and the influences of the span length as well as the initial tension in conductors on the aeolian vibration characteristics are analyzed. Furthermore, a 3D FE model of a conductor segment and the suspension clamp is created to study the stress distributions of the 3D model corresponding to different lines during aeolian vibrations. Finally, based on the stress analysis of the 3D model, the fatigue lives of the transmission conductors during aeolian vibration under different wind velocities are estimated. The jump phenomenon induced by the nonlinear vibration is reflected by the numerical simulation considering the geometric nonlinearity, and it is found that the energy balance principle (EBP) overestimates the vibration amplitudes because it cannot take the influences of the geometrical nonlinearity and span length into account. The obtained results may provide some instructions for the prevention design of aeolian vibration.