Objective This paper is to investigate the application value of molybdenum & palladium elastography and MRI clinically for diagnosing breast cancer and to provide the reference for clinical diagnosis in the future in order to improve the level of the diagnosis on the breast cancer. Methods Sixty eight patients with breast cancer were selected as research subjects, who were subject to molybdenum & palladium X-ray examination, ultrasonic elastography and MRI, the detections of three methods of imageological examination methods on lump, speculate sign and calcification were compared and analyzed, clinical application value of molybdenum & palladium elastography and MRI for diagnosing breast cancer was explored. Results The detection rates of molybdenum palladium X-ray on the lump, spicule sign and calcification hit 50.0%, 35.3% and 73.5% respectively. The detection rates of ultrasound elasticity imaging on the lumps, spicule sign and calcification hit 73.5%, 51.5% and 35.3%, respectively. The detection rates of MRI on the lumps, spicule sign and calcification hit 86.8%, 77.9% and 86.8% respectively, and such three detection rate of molybdenum palladium X-ray combining ultrasound elasticity imaging deliver were better. Conclusion The molybdenum & palladium X-ray and ultrasonic elastography are provided with advantages including simple and convenient operation and low cost, but the accuracy of single check needs to be improved, while the accuracy of combined examination of two method abovementioned is higher. The sensitivity of MRI is higher, and it can clearly show fine structure of breast lesions in clinical practices and these three methods can be combined in pairs in order to improve the accurate diagnosis on the breast cancer.