The wave variable based teleoperation has been analyzed and designed in time domain since it came into being. However, past researches paid little attention to the frequency domain characteristics of this method. Therefore, this study analyzed the wave variable method in frequency domain. The dynamics of the wave variable based teleoperation are compared with the 4-channel control algorithm. This work shows effect of the wave variable for the system, and shows the possibility of equivalent implementation of the wave variable method. Moreover, the problems of wave variables, the position drifting and "wave reflection" phenomenon, are explained in the form of 4-channel control. The position drifting is caused for the asymmetry of the position control in the master robot. The "wave reflection" is caused for the reflection of the inverse dynamics. It is helpful of this research to understand the wave variable based teleoperation more comprehensively, and lays the foundation to solve the existing problems. Experimental results are included in support of the theoretical work.