The conventional bus system architecture consists of masters, slaves, arbiter, decoder and so on in shared bus. As several masters can't use a bus concurrently, arbiter plays an role in arbitrating the bus. The efficiency of bus usage can be determined by the selection of arbitration method. Fixed Priority, Round-Robin, TDMA and Lottery arbitration policies are studied in the conventional arbitration method where the bus transaction cycle, the wait cycle and the priority are primarily considered. In this paper, we propose the arbitration method that considers the wait cycle. Furthermore, we verify the bus transaction cycle and the wait cycle compared with the other arbitration methods through TLM(Transaction Level Model).