An effective length-to-diameter ratio (ELDR) of the misaligned water-lubricated bearing is investigated in this paper. Firstly, the influence of the length-to-diameter ratio (LDR) on the misaligned bearing is explored theoretically and experimentally. In the theoretical model, liner elastic deformation, local turbulence, and journal misalignment are considered. In the experimental research, the bearing frictional force and hydrodynamic pressure are measured. The results show that an increasing effect of LDR on load-carrying capacity is remarkably weakened for misaligned bearings. On this basis, a concept of effective length-to-diameter ratio is defined. The results show that the bearing part exceeding ELDR has a minor effect on increasing the load-carrying capacity. Thus, the proposed concept of ELDR can be used to evaluate the rationality of bearing length. Finally, the variation law of ELDR with respect to key bearing parameters is analyzed.