The information on shear wave velocity is insufficient in realistic well logging data, even though shear wave velocity plays an important role in the reservoir characterization and fluid identification. Therefore it has become an important part of rock physics research to predict shear wave velocity (V_s). Empirical regression equations are based on water saturated rock; therefore, the fluid of hydrocarbon saturated rock must be substituted by water before shear wave velocity prediction. Using fluid substitution without shear wave velocity to predict longitudinal wave velocity (V_p) of water saturated rock, the drawback that traditional fluid substitution needs shear wave velocity for the prediction is overcome. By employing V_p-V_s regression equations of water saturated rock, reservoir shear wave velocities with water saturation are predicted. Furthermore, by using density correction, shear wave velocities of reservoir saturated by hydrocarbon are obtained, and then the method for predicting fast shear wave velocity without iteration is established and is applied to shear wave velocity prediction of realistic well logging data. The results demonstrate that prediction precision of the method proposed is obviously higher than that without fluid substitution, and fast shear wave velocity prediction method without iteration is effective.