A method for extracting a downgoing wavelet and attenuation parameters from VSP data, comprising: performing upgoing and downgoing P-waves separation processing on VSP data to obtain downgoing P-wave data; performing a FFT on seismic data with a preset time window length and cut from the downgoing P-wave data to obtain FFT transformed downgoing P-wave data and a multi-trace downgoing P-wave log spectrum; subtracting a downgoing wavelet log spectrum from the multi-trace downgoing P-wave log spectrum to obtain a wavelet-corrected multi-trace downgoing P-wave log spectrum; performing a correction and an inverse FFT on the FFT transformed downgoing P-wave data to obtain a downgoing wavelet; and obtaining attenuation parameters based on P-wave first arrival time and the parameters of the wavelet-corrected multi-trace downgoing P-wave log spectrum. Also provided are an apparatus for extracting a downgoing wavelet and attenuation parameters from VSP data and a computer device.