Level set method seems to be one of the most suitable solution for simulation of two phase flow systems. It can be implemented with different numerical methods (the commonly used one is Finite Differences Method FDM). In this work we chose to use a Finite Elements Method (FEM) to have more flexibility since it opens the way to high order discretization, irregular meshes and even high order geometry to handle large deformations. A model of vesicle using a level set method has already been developed in [Maitre2010] where the membrane of the vesicle is described only by adding a forcing term to the fluid equations. This model has the advantage to be coupled easily with any fluid solver accepting a forcing term as input. In this paper, we present a new implementation of this model using a finite element approach. Firstly we show a validation of our two phase flow model on a well-known two phase flow system : the rising of a bubble. Then we show that we are able to recover the known equilibrium shapes of vesicles in a fluid at rest.