Purpose:To investigate the feasibility of characterizing arterial plaque composition in terms of water, lipid and protein or calcium using dual energy computed tomography. Characterization of plaque composition can potentially help distinguish vulnerable from stable plaques.Methods:Simulations studies were performed by the CT simulator based on ASTRA tomography toolbox. The beam energy for dual energy images was selected to be 80 kVp and 135 kVp. The radiation dose and energy spectrum for the CT simulator were carefully calibrated with respect to a 320‐slice CT scanner. A digital chest phantom was constructed using Matlab for calibration and plaque measurement. Pure water, lipid, protein or calcium was used for calibration and a mixture of different volume percentages of these materials were used for validation purposes. Non‐calcified plaque was simulated using water, lipid and protein with volumetric percentage range of 35%∼65%, 5%∼60% and 5%∼40%, respectively. Calcified plaque was simulated using water, lipid and calcium with volumetric percentage range of 50%∼80%, 8%∼45% and 3%∼13%, respectively. We employed iterative sinogram processing (ISP) to reduce the beam hardening effect in the simulation to improve the decomposition results.Results:The simulated known composition and dual energy decomposition results were in good agreement. Water, lipid and protein (calcium) mixtures were decomposed into water, lipid and protein (calcium) contents. The RMS errors of volumetric percentage for the water, lipid and protein (non‐calcified plaque) decomposition, as compared to known values, were estimated to be approximately 5.74%, 2.54%, and 0.95% respectively. The RMS errors of volumetric percentage for the water, lipid and Calcium (calcified plaque) decomposition, as compared to known values, were estimated to be approximately 7.4%, 8.64%, and 0.08% respectively.Conclusion:The results of this study suggest that the dual energy decomposition can potentially be used to quantify the water, lipid, and protein or calcium composition of a plaque with relatively good accuracy.Grant funding from Toshiba Medical Systems and Philips Medical Systems