Capacity of MIMO LAS-CDMA systems under multi-path fading channels with two different correlating models were studied in the paper. Influences of the two models parameters on capacity were analyzed. The numerical results present that: according to the Various Scattering Environments correlating model, when the inner-elements distance of antennas array is large than 0.5λ, correlation almost does not take from the system capacity; for the Salz-Winter correlating model, the spread angle at receiver is the other key factor, it also influence the system capacity greatly. Capacity of MIMO LAS-CDMA systems under multi-path fading channels with two different correlating models were studied in the paper. The numerical results present that: according to the Various Scattering Environments correlating model, when the inner-elements distance of antennas array is large than 0.5λ, the correlation almost does not take from the system capacity; for the Salz-Winter correlating model, the spread angle at receiver is the other key factor, it also influences the system capacity greatly.