The growth of a spherical vapor bubble contained in a large body of upper convected Maxwell fluid is theoretically analyzed under the devolatilization condition of polymer by using a Galerkin FEM in the Lagrangian frame. Using the finite element technique, a fully explicit numerical scheme is developed both for the calculation of pressure distribution and for the tracking of bubble surface. Oscillatory behavior in bubble radius is observed during growth and the oscillatory behavior is found to be due to the interaction of mass transfer resistance and elasticity. It is found that the elasticity of fluid accelerates the growth and removal of volatile component. It is also found that the bubble growth in the devolatilization of polymers is affected by both mass transfer resistance and viscoelasticity of fluids.