A study of body waves in fractured porous media saturated by two fluids is presented. We show the existence of four compressional and one rotational waves. The first and third compressional waves are analogous to the fast and slow compressional waves in Riot's theory. The second compressional wave arises because of fractures, whereas the fourth compressional wave is associated with the pressure difference between the fluid phases in the porous blocks. The effects of fractures on the phase velocity and attenuation coefficient of body waves are numerically investigated for a fractured sandstone saturated by air and water phases. All compressional waves except the first compressional wave are diffusive-type waves, i.e., highly attenuated and do not exist at low frequencies.