In this paper, we develop a mathematical analysis to gain insights of mode localization often encountered in nearly cyclic symmetric rotors that contain slight mistune. First, we conduct a Fourier analysis in the spatial domain to show that mode localization can appear only when a group of tuned rotor modes form a complete set in the circumferential direction. In light of perturbation theories, these tuned rotor modes must also have very similar natural frequencies, so that they can be linearly combined to form localized modes when the mistune is present. Second, the natural frequency of these tuned rotor modes can further be represented in terms of a mean frequency and a deviatoric component. A Rayleigh–Ritz formulation then shows that mode localization occurs only when the deviatoric component and the rotor mistune are about the same order. As a result, we develop an effective visual method—through use of the deviatoric component and the rotor mistune—to precisely identify those modes needed to form localized modes. Finally, we show that curve veering is not a necessary condition for mode localization to occur in the context of free vibration. Not all curve veering leads to mode localization, and not all modes in curve veering contribute to mode localization. Numerical examples on a disk–blade system with mistune confirm all the findings above.