This essay is a general review of the application of ultrasonic NDE techniques to the performance assessment and characterization of composite materials. A brief review of ultrasonic input-output characterization of a composite plate by shear waves is presented. A theoretical development of ultrasonic wave propagation in isotropic and anisotropic media excited, respectively, by a circular transducer and an oscillatory point source is summarized. Some experimental results are described in which ultrasonic velocity and attenuation measurements give insight into material degradation of fatigued composite laminates. Ultrasonic determination of the elastic constants of a composite plate and an experimental attempt at ultrasonic testing of an isotropic plate containing a crack are also included. A recent effort for the characterization of viscoelastic materials using the ultrasonic NDE technique is outlined. Finally, the reliability of ultrasonic NDE is briefly touched upon.