The advantage of the electromagnetic tomography is introduced briefly. Based on conjugate gradient algorithm, modified conjugate gradient algorithm for electromagnetic tomography (EMT) is proposed, which improves quality of reconstructed image and convergence speed efficiently. In the light of the lab electromagnetic tomography system, modified conjugate gradient for reconstructing images is verified. By evaluation of image error and the relevance, regularization, Landweber, conjugate gradient and modified conjugate gradient algorithms are compared. It can draw the conclusion that for different flow models, image error and the correlation using modified conjugate gradient algorithm is superior to the others in lab EMT system.