The electromagnetic induced gain (EIG) effects based on the degenerate two-level atomic system are theoretically and experimentally studied. By constructing a N-type degenerate two-level system, the variations of signal light gain with Rabi frequency of pumping light are theoretically analyzed under different Doppler shifts. The results show that, in the rising range, the gain spectrum keeps a single peak structure with a narrow linewidth; while in the decreasing range, it generates a Rabi-like splitting and exhibits a symmetrical two-peak profile. Based on the degenerate energy levels of Cs atoms in which the angular momenta of ground and excited states are same, the generation feature of EIG is experimentally investigated. Furthermore, the influences of pumping intensity and signal light polarization on the peak gain efficiency are also analyzed.