Algorithm is constructed and a program developed for a full-wave inversion (FWI) method utilizing the elastic wave equation in seismic exploration. The FWI method is a method for obtaining a physical property distribution using the whole observed waveforms as the data. It is capable of high resolution which is several times smaller than the wavelength since it can handle such phenomena as wave reflection and dispersion. The method for determining the P-wave velocity structure by use of the acoustic wave equation does not provide information about the S-wave velocity since it does not consider S-waves or converted waves. In an analysis using the elastic wave equation, on the other hand, not only P-wave data but also S-wave data can be utilized. In this report, under such circumstances, an inverse analysis algorithm is constructed on the basis of the elastic wave equation, and a basic program is developed. On the basis of the methods of Mora and of Luo and Schuster, the correction factors for P-wave and S-wave velocities are formulated directly from the elastic wave equation. Computations are performed and the effects of the hypocenter frequency and vibration transmission direction are examined. 6 refs., 8 figs.