In this paper, the authors applied the δ matrix method to the computation of dispersion function of axisymmetrical cylindrical Rayleigh wave in multilayered media. Three methods were deduced, namely 6-order δ matrix algorithm, 5-order δ matrix algorithm and fast δ matrix algorithm. The problem of losing numerical precision and that of numerical overflow under high frequency were solved satisfactorily, and the computation speed was enhanced. The numerical computation and the application to engineering have verified the authors' methods and demonstrated that these methods can also be used to solve the dispersion curves of plane Rayleigh wave in multilayered media.