Aiming at the shortage of network source consumption and load balance in traditional shared tree multicast algorithm, this paper takes the network coding into account and puts forward a new shared tree multicast route protocol based on network coding. This algorithm adopts the method of minimum link consumption to select the node, and realizes the data transfer from multi-source nodes to multi-destination nodes. Simulation results show that with the technology of network coding, the consumption of wavelength resource and network resource can effectively reduced.