In order to solve the problem of railway emergency materials dispatching optimization considering the difference of the emergency time limit of the materials, the uniqueness of this problem is analyzed and a multi-objective dispatching model is established with multi-objective programming method. On base of satisfying the requirement of emergency time limit of different materials, the model achieves the objectives of minimum number of selected depots and minimum cost of dispatching. Then the solution procedure and algorithm of the model is designed and an example is set to verify the feasibility of this algorithm. Analytic results indicate that the model can ensure utilizing and dispatching the emergency materials efficiently and methodically.