Calculation of fin efficiency is necessary for the design of heat exchangers. This efficiency can be calculated for individual finned tubes or continuous fins. Continuous fins are mostly used in plate-fin and tube heat exchangers (PFTHEs). In most cases, the basic elements of those PFTHEs are circular, oval or flattened pipes, which contain circular or polygonal fins. Continuous fins, as can be observed in PFTHEs, are divided into virtual fins. Those fins can have a rectangular shape for an inline arrangement of pipes or a hexagonal shape for a staggered arrangement of pipes. This research shows a methodology of using the finite element method for calculating the efficiency of fins of any shape, placed on pipes of any shape. This paper presents examples of determining the efficiency of seeming fins, which are most commonly used in PFTHEs. In the article, we also compare the precision of calculations of the efficiency of complex-shaped fins using exact analytical methods and approximated methods: the equivalent circular fin method (Schmidt’s method) and the sector method. The results of the analytical methods and the approximate methods are compared to the results of numerical simulations. The calculations for continuous fins with complicated shapes of virtual fins, e.g., hexagonal elongated or segmented, are also presented.