In this paper, stability of the neutral equilibrium and initial post-buckling of a column with a rotational end restraint is analyzed based on Koiter initial post-buckling theory. The potential energy functional is written in terms of the angle. By the generalized Fourier series of the disturbance angle, it is proved that the second-order variation of the potential energy is semi-positive definite at the neutral equilibrium. The stability of the neutral equilibrium is determined by the sign of the fourth-order variation for the buckling mode. For all values of the stiffness of the rotational end restraint, the neutral equilibrium is stable and the bifurcation equilibrium is upward in the initial post-buckling.