Previous studies have shown that P-wave velocity and S-wave velocities increase as increasing hydrate saturation. However, the characteristics of dispersion and attenuation of hydrate-bearing formation are still controversial. Based on Biot's theory, this paper clarifies the characteristics of hydrate formation's dispersion and attenuation in suspension, particle-support, and cementation modes. The results show that hydrate's occurrence mode and saturation affect the dispersion and attenuation. For the P-wave, the peak value of attenuation and frequency curve increases with the increasing saturation in suspension and particle-supported modes. The peak value increases with increasing hydrate saturation when the hydrate saturation is less than 0.28 and decreases with increasing hydrate saturation when the hydrate saturation is larger than 0.28. For the S-wave, the peak value decreases with increasing hydrate saturation in suspension, particle-support, and cementation modes.