The ultrasonic nonlinear parameter, β, has been known as effective for the evaluation of material degradation, and its correlation with material degradations such as thermal aging, fatigue, creep, and plastic deformation has been reported. However, most studies were limited to the relative measurements that is effective only for the relative comparison and not able to evaluate the degradation in quantitative. To overcome this limit, this study proposes a new algorithm which is able to evaluate the quantitative strength degradation. The proposed method mainly consists of four steps: 1) Measure the linear elastic modulus (E) from the longitudinal and shear wave velocities by using pulse echo method. 2) Measure the absolute ultrasonic nonlinear parameter, β, by using piezoelectric detection method. 3) Construct the stress-strain curve by substituting the measured linear elastic modulus (E) and absolute ultrasonic nonlinear parameter β to the nonlinear stress-strain equation. 4) Estimate the 0.01% offset yield strain and yield strength. The yield strengths estimated by the proposed technique in the heat-treated Al6061-T6 and SA508 showed good agreement with the yield strength obtained by tensile test. Consequently, the proposed method makes the quantitative evaluation of strength degradation using ultrasonic measurement possible. [This research was supported by the National Research Foundation of Korea (NRF) grant funded by the Korean government (NRF-2013M2A2A9043241).]