In this paper, we consider numerical simulation of wave propagation in fluid-saturated porous media. A wavelet finite-difference method is proposed to solve the 2-D elastic wave equation. The algorithm combines flexibility and computational efficiency of wavelet multi-resolution method with easy implementation of the finite-difference method. The orthogonal wavelet basis provides a natural framework, which adapt spatial grids to local wavefield properties. Numerical results show usefulness of the approach as an accurate and stable tool for simulation of wave propagation in fluid-saturated porous media.