The Transfer Matrix Method is an effective method which is used in mechanics and provides a great advantage especially in solving some mechanical problems. The most important advantage of the Transfer Matrix Method is reducing the dimensions of the matrix used in the analysis. The most important consequence of this is the saving the time. In this study, firstly studies in recent years in relation with the Transfer Matrix Method have been briefly summarized. Then the Modified Finite Element Transfer Matrix Method is explained briefly. At the end of the study, the application of the Modified Finite Element Transfer Matrix Method to the heat transfer problem has been demonstrated.