Many engineering structures exhibit frequency dependent characteristics and analyses of these structures lead to frequency dependent eigenvalue problems. This paper presents a novel perturbative iteration (PI) algorithm which can be used to effectively and efficiently solve frequency dependent eigenvalue problems of general frequency dependent systems. Mathematical formulations of the proposed method are developed and based on these formulations, a computer algorithm is devised. Extensive numerical case examples are given to demonstrate the practicality of the proposed method. When all modes are included, the method is exact and when only a subset of modes are used, very accurate results are obtained.