In the present study a new measurement technique has been developed, which uses an ultrasonic transmission signal in order to identify the vertical two phase flow pattern. The ultrasonic measurement system developed in the present study not only provides the information required for the identification of vertical two phase flow patterns but also makes real time identification possible. Various vertical two phase flow patterns such as bubbly, slug, churn, annular flow etc. have been accurately identified with the present ultrasonic measurement system under atmospheric condition. In addition, the present test apparatus can practically simulate the ultrasonic propagation characteristics under high temperature and high pressure systems. Therefore, it is expected that the present ultrasonic flow pattern identification technique could be applicable to the vertical two phase flow systems under high temperature and high pressure conditions.