Elasticity imaging is a novel technique that can reveal intrinsic mechanical properties of soft tissue. This paper proposes a new finite element approach to reconstruct elasticity images. Based on the real time data capturing capability of ultrasound, we propose a layered element chain algorithm to compute the distribution of Young's moduli in a region of interest. This approach employs pre-calibrated moduli as its input instead of using boundary pressure conditions which are usually not easy to obtain.