Abstract: To research on wave propagation characteristics of a liquid filled pipe embedded in a porous medium, and analyze the effect of the parameters of porous media on the dispersion, a model of a liquid filled pipe embedded in a porous medium is built. Based on the elastic-dynamic theory of liquid-saturated porous solid, the corresponding dispersion equations are established. Through numerical simulation, the characteristic of dispersion and time domain waveform with different thickness of pipe and porous medium parameters are discussed. Results show that the porosity has little impact on dispersion, and the attenuation of guided wave increases with porosity, whilst the porosity influences the displacement amplitude of the time domain waveform. It is hard to show the difference of dispersion when the permeability of the media changes. The drawn conclusion can provide some theoretical instruction and guidance for buried pipe nondestructive testing.