A novel technique for measuring the moduli of elastic isotropic material as a function of temperature, using ultrasonic guided wave modes is presented here. These techniques can be used for measure the Young's modulus (E) and Shear Modulus (G) of material. Here, the L (0, 1) wave mode is used for measuring E and T(0,1) mode for G. The scope of measurement is made from room temperature to maximum utility temperature of material. In this work, the material is required in the form of a waveguide with an ultrasonic guided wave generator at one end and an embodiment (such as a notch or a bend) at the other end for obtaining reflected signals. The transducer is kept at room temperature while the end (along with the embodiment) is kept inside a heating device such as a temperature controlled furnace. The time of flight difference (δTOF), as a function of temperature, between the guided wave reflections from the embodiment and the end of the waveguide, is used to measure the material properties. The technique is based on the fact that, in addition to elongation of the waveguide, the sound speed in the materials also varies with temperature and is measurable from changes in the time of flight of signals. In addition, the ambient temperature of the waveguide end is measured using a calibrated thermocouple. Several materials were tested and the data was compared with values obtained from literature. For instance, Inconel -690 waveguide with embodiment of a 'L' bend was evaluated from 45°C to 1100°C at a frequency of 0.5 MHz L(0, 1) and T(0, 1) modes. The comparison between the literature values and the measured values were found to be in agreement with a regression correlation factor R=0.999 or better, for both E and G measurements. Advantages of the method over conventional methods of such measurements will also be discussed. © 2014 AIP Publishing LLC.