An infinite panel model of giant magnetostrictive material loudspeaker system (GMMLS) is proposed by making use of finite element method(FEM). Bending wave eigenfunction is introduced to describe the acoustic radiation condition of the panel. Far-field response in different conditions is calculated by changing the mass surface density. Conclusion is obtained by analyzing the curves simulated, that panel which has larger mass surface density can hardly generate far-field acoustic radiation for lower frequency, while the panel has smaller mass surface density generates far-field acoustic radiation for lower frequency evenly and stronger.