The finite element method has been used to model and analyze the heat transfer phenomena during manufacturing process of $MoSi_2$ by SHS(Self-propagating High-temperature Synthesis). For this purpose nonlinear transient heat transfer analyses by using ANSYS have been performed to estimate the temperature distributions and the peak temperature in the test specimen. The effects of manufacturing process parameters such as pre-heating temperatures, the velocity of reaction zone have been investigated. The results of the analysis have been compared with the experimental results.