Based on Mindlin's theory of plates, elastic wave scattering and dynamic stress concentrations in plates with two circular cutouts were studied by using the wave function expansion method and local coordinate system. Numerical results of dynamic moment concentration factors around the cutouts were obtained by setting different parameters and the influence of the parameters on dynamic moment distributions were discussed. It is shown that unlike single-cutout situation, the complex changes take place on dynamic moment concentration factors at two-cutout situation due to the interaction between two openings. Sometimes the dynamic moment was increased, or sometimes the one was reduced. When the plate is thicker at the high-frequency, the opening spacing of the non-significant influence is larger. Therefore, in the dynamic design the comprehensive dynamic stress analysis would be done instead of directly applying the static standard and code for the structure design.