Steel mutli-wire cables are widely employed in civil engineering. They are usually made of a straight core and one layer of helical wires. In order to detect material degradation, non-destructive evaluation methods based on ultrasonics are one of the most promising techniques. However, their use is complicated by the lack of accurate cable models. As a first step, the goal of this paper is to propose a numerical method for the study of elastic guided waves inside a single helical wire. A finite element (FE) technique is used based on the theory of wave propagation inside periodic structures. This method avoids the tedious writing of equilibrium equations in a curvilinear coordinate system yielding translational invariance along the helix centerline. Besides, no specific programming is needed inside a conventional FE code because it can be implemented as a post-processing step of stiffness, mass and damping matrices. The convergence and accuracy of the proposed method are assessed by comparing FE results with Pochhammer-Chree solutions for the infinite isotropic cylinder. Dispersion curves for a typical helical waveguide are then obtained. In the low-frequency range, results are validated with a helical Timoshenko beam model. Some significant differences with the cylinder are observed.