This study analyzes the planar 4:1 contraction flow of viscoelastic fluids with retardation time using finite volume method. To consider separately the elasticity effect of the viscoelastic fluid without shear thinn-ing effect, Oldroyd B liquid model is adopted for the numerical simulation. Instead of the stream function-vorticity formulation, SIMPLER algorithm with staggered grid system which incorporates primitive variable has been introduced in discretizing the momentum equations. An upwind corrected scheme has been used in discetizing the constitutive equations for the non-Newtonian part of the stress. The size of the corner vortex is shown to be slightly influenced by the Weissenberg number. However as the Weissenberg number is increased the chang-ing of the vortex shape agrees qualitatively well with some experimental studies.