Using the finite element method and Cole-Cole model for dual-frequency IP method to research numerical simulation, the authors introduced the fundamental principle of the dual-frequency IP method and the boundary value problem and variational equations, then replaced the complex resistivity of the model with the Cole-Cole model's parameters under ignoring the EM effect. Through solving the last linear equations, electric potentials of all the model's points were obtained. With changing model's parameters, the authors got different curves of the F_s and phases. According to the results of the simulation, the algorithm is proved to be correct and adaptable.