This paper deals with the finite element approximation of the axisymmetric Stokes flow on unbounded domains. In order to overcome the difficulties caused by the unbounded domains, the finite element method is combined with the classical analytical method and the equivalent boundary value problem on bounded domains is obtained, which is solved numerically by the finite element techneque. As an example, the Stokes flow around the sphere is calculated and the error estimate of the approximate solutions is given.