Graphite has good induced polarization characteristics, so IP measurement is an effective geophysical method for prospecting graphite deposit. Through IP surveying work of Xiasheduo graphite deposit in Zhangqiu city of Shandong province, 4 IP anomalies have been circled. After verification, it is said that the circled IP anomalies have good correspondence with ore bodies, and obvious geological effect has been achieved. Induced polarization measurement has good application effect in prospecting graphite deposit.