This paper presents an identification method for viscoelastic materials employing the wavelet analysis. The proposed inverse analysis is based on elastic-viscoelastic correspondence principle for linear viscoelastic materials, and two-dimensional discrete wavelet analysis is applied to the system matrix of the iteration equation for identifying viscoelastic materials. The elastic-viscoelastic correspondence principle [1] is that the Laplace time-transformed viscoelastic field equations and boundary conditions are formally identical with the equations for an elastic body of the same geometry. Therefore, identification analysis of viscoelastic materials can be converted to an 'associated' elastic problem in the Laplace domain [2]. By applying the discrete wavelet transform to the system matrix, we estimate unknown material parameters for not only overdetermined systems and determined systems, but also underdetermined systems. Numerical example is calculated to investigate the validity of the method.