Product modeling or prototype is an important part of new product development. After comparing the characteristics of physical model, digital prototype, and virtual prototype in new development product design, we propose to build augmented products model based on Augmented Reality technology. It has the characteristics of real-time interactivity, short production cycles, real feeling as physical prototype, and small equipment investment. Two model construction techniques are highlighted in the system developed by ARToolKit used as a development platform in the construction of augmented model. One is a direct construction technique based on OpenGL, and the other is an indirect construction technique based on 3D software and OpenGL,the virtual model is integrated into real scene in ARToolKit. Finally, implementations for the two methods are described in detail and examples are given, which indicates that the proposed augmented product modeling technique is practicable and feasible .