The　time-domain　explicit　finite　element　method　for　the　wave　motion　of　saturated　two-phase　medium　is　conditionally　stable,　and　the　stability　of　this　kind　of　method　can　be　evaluated　by　the　transfer　factor　of　transfer　matrix　of　calculating　formula.　The　smaller　the　value　of　transfer　factor　is,　the　better　the　stability　of　the　explicit　finite　element　method　is.　The　stability　of　two　time-domain　explicit　finite　element　methods　for　the　wave　motion　of　saturated　two-phase　medium　is　compared　based　on　the　transfer　matrix　of　the　calculating　formula　of　the　method,　as　various　values　of　physical　parameters　of　saturated　two-phase　medium　are　adopted.　Calculating　results　show　that　the　value　of　permeability　coefficient　has　a　remarkable　effect　on　the　distinction　between　the　stability　characteristic　of　the　two　methods.　When　a　large　value　of　permeability　coefficient　is　adopted,　the　stability　characteristic　of　the　two　methods　does　not　distinguish　obviously　from　each　other.　On　the　other　hand,　when　a　small　value　of　permeability　coefficient　is　adopted,　the　stability　characteristic　of　the　two　methods　will　have　a　remarkable　difference　from　each　other.　One　method　has　more　ascendant　stability　characteristic　than　that　of　the　other　method.