Dynamic behaviour of isotropic rectangular plate resting on two-parameters foundation is investigated. The governing partial differential equation is transformed to ordinary differential equation using Galerkin method of separation. The hybrid method of Laplace transform and variation parameters method is used to analyze the ordinary differential equation. Introduction of exact method helps in fast convergence of the results. The analytical solutions obtained are compared with existing literature and confirmed in good accuracy. The analytical solutions obtained are used to examine the effect of controlling parameters on the plate natural frequencies. From the results obtained, it is observed that, increase in elastic foundation parameter increases the natural frequency. Increase the aspect ratio increases the natural frequency. The solution converges fast with few iterations.