Recently, thermographic testing has been applied as a non-destructive evaluation technology for composite materials due to its remarkable advantages, such as its non-contact, non-destructive, and high-speed properties, it is harmless to the human body and easy to use, as well as having both qualitative and quantitative inspection performance. In this paper, multiple lock-in frequency modulated thermography is applied to investigate defects on the subsurface of polypropylene/glass fiber composites, and experimental investigations were conducted on various defect conditions for qualitative and quantitative estimation. A thin rectangle-shaped PP-GF plate of dimension 100 × 180 mm and a depth of 3 mm with various 24 defects conditions was considered as a test sample. The sample was stimulated at multiple modulation frequencies, viz., 1 Hz, 0.2 Hz, 0.1 Hz, 0.05 Hz, 0.03 Hz, and 0.01 Hz. For qualitative and quantitative evaluation, two representatives, multiple lock-in frequency modulated algorithms of lock-in thermography, HA and FFT, were applied to the raw data. Moreover, their detectability performance was compared in terms of phase contrast and signal-to-noise ratio.