Abstract: Disclosed is a method for extracting IP information in a TEM response of a grounded-wire source, comprising the following steps: 1) obtaining subsurface resistivity through inversion of a vertical magnetic field less influenced by an IP effect; 2) obtaining an electric field response not influenced by the IP effect based on forward modeling of the obtained underground electrical structure; 3) removing the influence of the IP effect on an observed response to obtain a pure IP response; and 4) inverting the obtained IP response to obtain IP information of polarizability, a frequency dependence, and a time constant. The method of the present invention provides a new idea for further extracting IP information in a TEM response.