In this paper, the fast multipole virtual boundary element - least square method (Fast Multipole VBE - LSM) is proposed and used to simulate 2-D elastic problems, which is based on the fast multipole method (FMM) and virtual boundary element - least square method (VBE - LSM).The main idea of the method is to change computational model by applying the FMM to conventional VBE - LSM. The memory and operations could be reduced to be of linear proportion to the degree of freedom (DOF) and large scale problems could be effectively solved on a common desktop with this method. Numerical results show that this method holds virtues of high feasibility, accuracy and efficiency. Moreover, the idea of this method can be generalized and extended in application.