The propagation properties of the guided modes were studied in a taper slab waveguide with anisotropic metamaterials. For TM oscillating guided modes,the dispersion and power flux equations were obtained from the Maxwell’s equations. The transmission and reflection coefficients of TM0 mode in a taper slab waveguide with anisotropic metamaterials were investigated. Through the dispersion,transmission and reflection equations,some related characteristic curves were received. These curves show that the transmission coefficient ct2 decrease as the electromagnetic wave transmission,it begins oscillating near zero,and appears double-mode reflection. The first reflection coefficient ar12 increases from zero,then it approaches a fixed value. And for the second reflection coefficient ar22,it increases from zero to near 1 monotonously. Besides,with the increase of the frequency of electromagnetic waves or metal filling ratio in the multi-layer structure,the curves of transmission coefficient move down,which reveals that the transmission in the waveguide decreases. For the first reflection,the curves moving down means the reflection for electromagnetic waves decrease. However,for the second reflection,the curves moving up means the reflection for electromagnetic waves increase.