Pulse wave carries abundant physiological and pathological data about the human body. Understanding the effect of blood compressibility on the transmission qualities of pulse waves is necessary to detect, cure, and prevent cardiovascular problems. In this research, the fluid-solid coupling finite element analysis model of artery system was developed using COMSOL MultiPhysics software. The influence of blood compressibility on pulse wave propagation properties in the brachial artery was investigated using the blood volume compression modulus. Results show that the influence of blood compressibility on pulse wave propagation is relatively weak and may be ignored when evaluating the compressibility of blood and that the volume compression modulus swings 2GPa over and beyond the typical range of the human body. The influence of blood compressibility on the peak value of pressure pulse wave is minor. The attenuation amplitude of the peak value of a pulse wave is bigger for the case with compressible blood than those of case with incompressible blood, and the difference between compressible and incompressible models is less than 1%. But blood compressibility has a clear impact on pulse wave velocity. It is found that the pulse wave velocity is greater than that of blood flow velocity. These findings will be valuable to investigate deeply for evaluating pressure and velocity pulse waves, as well as in providing a waveform-based preliminary diagnosis of symptoms in human body.