Abstract: In this paper, the characteristics of P1-N1-P2 waves in the elderly with normal hearing and its influencing factors are studied, and its correlation with speech perception is preliminarily discussed. Forty elderly people with normal hearing are participated in the test of P1-N1-P2 waves under speech sound stimulus in different frequency bands and in the test of speech recognition score under different signal to noise ratios. Non-parametric test is used to analyze the differences of the latent period and amplitude of each wave of P1-N1-P2 waves under different speech stimulus. The Spearman correlation test is used to analyze the correlation of the age and pure tone hearing threshold with the latent period and amplitude of P1-N1-P2 waves, and the Spearman correlation test is also used to preliminarily analyze the correlation of the latent period and amplitude of each wave of P1-N1-P2 waves with the speech recognition score. The results show that the frequency band of sound stimulus, the age and the pure tone hearing threshold have remarkable effect on the latent period and amplitude of each wave of P1-N1-P2 waves for the elderly with normal hearing, and the characteristics of the P1-N1-P2 waves is correlated with the speech perception for the elderly with normal hearing.