With the rapid development of interconnected power grid, the phenomenon of power system low-frequency oscillation appears unavoidably. Then, the appearance of wide-area measurement system provided a supporting technology for better scout low-frequency oscillation system and better recognize the oscillation mode . In this paper, the existing oscillation mode identifying methods are analyzed from the viewpoint of calculation speed, criterion, calculation accuracy, etc. Mainly compared the applicability of two methods, Prony and ESPRIT . Based on the above research, a new idea of monitoring power system low frequency oscillation based on WAMS is put forward in this paper.