Diesel generators (gensets) are often the lowest-cost electric generation for reliable supply in remote microgrids. The development of converter-dominated diesel-backed microgrids requires accurate dynamic modeling to ensure power quality and system stability. Dynamic response derived using original genset system models often does not match those observed in field experiments. This paper presents the experimental system identification of a frequency dynamics model for a 400 kVA diesel genset. The genset is perturbed via active power load changes and a linearized dynamics model is fit based on power and frequency measurements using moving horizon estimation (MHE). The method is first simulated using a detailed genset model developed in MATLAB/Simulink. The simulation model is then validated against the frequency response obtained from a real 400 kVA genset system at the Power System Integration (PSI) Lab at the University of Alaska Fairbanks (UAF). The simulation and experimental results had model errors of 3.17% and 11.65%, respectively. The resulting genset model can then be used in microgrid frequency dynamic studies, such as for the integration of renewable energy sources.