A novel technique for simultaneously measuring the moduli of elastic isotropic material, as a function of temperature, using two ultrasonic guided wave modes that are co-generated using a single probe is presented here. This technique can be used for simultaneously measuring Young's modulus (E) and shear modulus (G) of different materials over a wide range of temperatures (35°C-1200°C). The specimens used in the experiments have special embodiments (for instance, a bend) at one end of the waveguide and an ultrasonic guided wave generator/detector (transducer) at the other end for obtaining reflected signals in a pulse-echo mode. The orientation of the transducer can be used for simultaneously generating/receiving the L(0,1) and/or T(0,1) using a single transducer in a waveguide on one end. The far end of the waveguides with the embodiment is kept inside a heating device such as a temperature-controlled furnace. The time of flight difference, as a function of uniform temperature distribution region (horizontal portion) of bend waveguides was measured and used to determine the material properties. Several materials were tested and the comparison between values reported in the literature and measured values were found to be in agreement, for both elastic moduli (E and G) measurements, as a function of temperature. This technique provides significant reduction in time and effort over conventional means of measurement of temperature dependence of elastic moduli. © 2015 AIP Publishing LLC.