P300 component of the event-related potential(ERP) has been studied for theoretical, empirical, and clinical applications. Nowadays the 1-, 2-, and 3-stimulus oddball paradigms are used for eliciting P300 component of EEG in the auditory stimulus experiments. In this paper, we used a method to add one more stimulus to the 3-stimulus auditory paradigm. The adding stimulus has not the same volume but the same tone of the target stimulus. The 4-stimulus oddball paradigm to use two targets is used to elicit the P300 event-related potentials. In 4-stimulus oddball paradigm, an infrequent non-target (p=0.10) is presented in addition to two infrequent targets (p=0.10) and a frequent standard (p=0.70). Two target stimuli elicited a P300 component with a parietal maximum distribution. The amplitude of the P300 in target 2 was larger than that in target 1 and the latency of the P300 in target 2 was longer than that in target 1. The P300 component due to target 2 stimuli was larger than that due to target 1 stimuli. The experimental results approve that the 4-stimulus oddball paradigm can elicit P300 component clearly. The results are compared with the results of the traditional oddball paradigm.