Heart sounds are highly valuable to the clinical diagnoses of most cardiovascular diseases, so the analysis of phonocardiographic signals is helpful to diagnosing cardiovascular diseases clinically. Phonocardiographic signals are non-stable, so it is necessary to choose appropriate method in time-frequency analysis. The traditional method such as Fourier Transform is dissatisfactory. Continuous Wavelet Transform (CWT) and Matching (MPM) Pursuit Method are both effective methods. They can be used to extract and cluster the characteristics of the signals. By analysis and comparison, the two methods showed the advantages over traditional methods. Additionally, their respective merits and demerits are indicated.