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The three parameters of P-wave velocity, S-wave velocity, and density have remarkable differences in conventional prestack inversion accuracy, so study of the consistency inversion of the 'three parameters' is very important. In this paper, we present a new inversion algorithm and approach based on the in-depth analysis of the causes in their accuracy differences. With this new method, the inversion accuracy of the three parameters is improved synchronously by reasonable approximations and mutual constraint among the parameters. Theoretical model calculations and actual data applications with this method indicate that the three elastic parameters all have high inversion accuracy and maintain consistency, which also coincides with the theoretical model and actual data. This method has good application prospects. [ABSTRACT FROM AUTHOR]