Large-diameter bored piles can safely transmit loads from structures by skin friction to the surrounding soil strata and end bearing at the bedrock layer, thereby providing a high compressive capacity. High-Strain Dynamic Testing (HSDT) provides a unique alternative technique to traditional Static Load Testing (SLT) for determining the static compressive resistance of the bored piles, considering its quicker performance and significant cost reductions. This article’s main objective is to numerically explore the performance of large-diameter bored piles during the HSDT and to understand their dynamic behavior under an axial compressive impact force. This research is based on testing pile foundations for reinforced concrete mixed-use towers in the coastal zone of New Alamein City, Egypt. The tested pile is a 1.20 m diameter bored pile. Numerical modeling is performed to simulate both the HSDT and the SLT for two piles at the same site. Non-linear axisymmetric finite element modeling is employed to validate both test records and develop some sort of matching between the two tests. As lumped models, the developed numerical models use the signal-matching process, which is conducted by varying and adopting the strength parameters and deformation characteristics of the ground or soil deposit and the soil–pile interface. The predicted load-displacement curves, developed from analyzing dynamic records employing the Modified Unloading Point (MUP) method, are consistent with the field records. The verified non-linear models are utilized to accomplish a comparative parametric analysis to better understand the drop-mass system aspects. The analysis results emphasize the significance of employing adequate impact energy (i.e., dropping height and mass) to move the pile top to a sufficient extent to mobilize its full resistance. However, a longer impact duration, i.e., larger mass, is more effective for achieving a deeper high-strain wave. The impact load should be developed by a larger drop mass with a lower drop height, not a smaller drop mass with a higher drop height. The results also indicate that, for relatively longer piles, the skin friction of the upper layers surrounding the pile shaft is fully mobilized, whereas the skin resistance of the lower layers is not fully mobilized, regarding the stress wave phenomenon effect. Finally, this study’s findings can be employed to develop guidelines and design procedures for the HSDT to be effectively performed on bored piles.