The generalized mixture rule (GMR) is usually applied in determining mechanical properties such as the rheological property and Young’s modulus of multi-phase rocks. However, it is rarely used to determine electrical conductivity of multi-phase rocks presently. In this paper, we calculate the effective conductivity using the 3D finite element method for a large number of two-phase medium stochastic models. The GMR is then employed as an effective conductivity model to fit the data. It shows a very close relationship between the parameter J of GMR and the ratio of conductivities of the two phases. We obtain the equations of the parameter J with the ratio of conductivity of two phases for the first time. On this basis, we can quickly predict (or calculate) the effective conductivity of any twophase medium stochastic model. The result is much more accurate than two other available effective conductivity models for the stochastic medium, which are the random model and effective medium theory model, laying a solid base for detailed evaluation of oil reservoirs.