Multi-waves, multi-component(MWMC) seismic data can provide more and more dependable estimation parameters for reservoir predication and reservoir description than P-wave data alone. Because these information, such as P- to S-wave velocity ratio, generated at the procedure of P-wave and convert-wave’s matching, the change of frequency spectrum and phase specturm, are important parameters for imaging, inversion and interpretation of multi-component seismic data, PP- and PS-waves’ matching plays a very important role in MWMC seismic exploration processing and interpretation.Artificial selection and log calibration methods originally are applied for matching PP- and PS-waves. Nowadays, Experts match PP- and PS-waves by least squares and multiple iterations method and dynamic time warping algorithm method. But so far, there are some problems when using PP- and PS-waves’ matching technology. First, in the process of PP-and PS-waves matching, because of the difference between PP-and PS-waves’ wavelet and spectrum characteristics, the amplitude and phase are distorted during the matching process. Second, PP-and PS-waves’ time matching maybe end with low accuracy problem, and these problems will seriously affect the joint interpretation and inversion of MWMC seismic data.To solve the above problems, based on DIW algorithm, this paper implemented a advanced high-precision method for the match of PP- and PS- waves. The method includes two steps. At the first step, we use the Dynamic Image Warping technology which is based on the warping window calculated by P- to S-wave velocity ratio and the maximum correlation coefficient criterion to match PP- and PS-waves directly. Then, at the second step, based on the initially warped PP- and warped PS-waves data and estimated P- to S- wave velocity ratio, PP- and warped PS- (or PS- and warped PP-) data are matched again with Dynamic Image Warping technology which is based on the Sakoe-Chiba Band warping window and maximum correlation coefficient criterion. And then this method will finally achieve a high precision. Our method is tested by using synthetic and field data from Xin Chang oil field. The results show that our method is effective and accurate in matching the PP- and PS- events, and could furthermore be applied to the seismic data with low signal-to-noise ratio or weak similarity in different components. In this paper, the main work is as follows:1. Dynamic Image Warping algorithm is used to obtain the tensile or compression time shifts, and with the time shifts, P- to S-wave velocity ratio is calculated to match PP and PS waves directly. This algorithm contains three steps. First, with 2-order symmetrical dynamic programming method, we compute the total alignment errors of the double-way travel time or one-way depth for PP- and PS-waves. Second, the warping window on total alignment errors is calculated with the maximum and minimum of the P- to S-wave velocity ratio to constraint the searching zone. We then search the optimal path within the warping window by using the recursive backtracking method. At last, a maximum correlation coefficient criterion is applied to determine the best warping path. We finally calculate time- or depth-shifts between PP- and PS- images and match PS to PP post-stack section with the best shifts or P- to S-wave velocity ratio calculated with the shifts.2. we first obtain time shifts by using Dynamic Image Warping algorithm which is based on the Sakoe-Chiba Band warping window and the maximum correlation criterion, and then, we implement the high precision fine matching of PP- and PS-waves and updated P- to S-wave velocity ratio with these time shifts.