The regularity of railway track alignment is a crucial component fur maintaining travel safety and the smoothness of passenger ride. The conventional spectral analysis has been considered to estimate the severity of the track irregularity from measured data. The time domain data used to be changed into the frequency domain by Fourier transform. Because the measuring points can be regarded as the time points, the spatial-frequency can be introduced instead of the time-frequency. Although FFT(Fast Fourier Transform) and/or PSD(Power Spectral Density) function could provide fairly localized information within frequency domain, but chronical configurations of data could be missed. In this study, we attempt to apply the Morlet wavelet transform for the purpose of a frequency-time-domain analysis rather than a frequency-domain analysis. The applicability of wavelet transform is examined for the estimation of the track irregularity with real measured track data on the section of Kyoung-bu line by EM-120 measuring vehicle. It is shown that the wavelet transform can be an effective tool to manage the track irregularity.