We investigated the substrate effect of carbon nanotube (CNT) oscillators using classical molecular dynamics simulations. Double-walled CNT oscillators on {100} gold surface were considered. The nanotube–gold interactions induced the compressive deformations of the outer nanotube and affected the transitional velocity and the energy dissipation of the nanotube oscillator. When the inner nanotube was extruded from the outer nanotube, the central regions of the outer nanotube were compressed by the nanotube–gold interactions and then, these compressive forces pushed out the inner nanotube and finally, the transitional velocity of the inner nanotube was slightly increased at the edges regions. Since the energy dissipation of the nanotube oscillator on gold surface was higher than that in vapor, the decrease of the transitional velocity for the nanotube oscillator on gold surface was greater than that for the nanotube oscillator in vapor.