As a kind of anisotropic media, transversely isotropic reservoir is widely distributed in sedimentary rocks. In this work, Biot model for transversely isotropic porous media is deduced systematically based on acoustic theory of anisotropic porous media. The calculation formula for elastic parameters is obtained, and simulations and analysis with practical parameters are carried out. An influence mechanism of porous media saturation is introduced from Biot model. Then calculations and analysis of rock acoustic properties are conducted in conditions of two-phase porous fluids, and acoustic properties under different frequencies of acoustic petrophysics, acoustic logging and seismic are gained.