Pseudo spectral method has high simulating accuracy and high computational efficiency. Compared to finite difference method and finite element method, it has such advantages: 1) it uses fast Fourier transform in space coordinate to calculate the time in time domain and can avoid computing the partial derivative; 2) it can realize complete frequency band seismic wave simulation without any limitation by finite difference method and finite element method on high frequency component; and 3) it has a lower dispersion and needs only a small memory requirements. So the pseudo spectral method has been used in the wave field simulation of isotropic two-phase media. Firstly, elastic wave equation of isotropic two-phase media was given based on Biot model. Then, the iterative formulate of pseudo spectral method was derived for 2-D isotropic two-phase media. Finally, the wave field simulation for the given media model was realized. Simulation results show that the elastic wave propagates in fast P-wave, S-wave, and slow P-wave in isotropic two-phase media. Based on simulation results, the propagation laws of various wave was analyzed and the effect of dissipation coefficient and porosity on seismic wave propagation discussed.