Austenite stainless steel 304 has properties of high resistance to corrosion and temperature changes. Therefore, this material is widely used in various of industries. However, when the material is subjected to heating and cooling cycles the forming accuracy, for example, the right angle associated with a sharp bend such as corner is lost. This phenomenon is caused by the reversion of the deformation-induced martensite into austenite when the temperature in increased. This result in misfit of a structure or an assembly, and an increase in residual stress. Hence, it is important to understand this process. In this study, to evaluate the mechanical behavior of the deformation-induced martensite and reversed austenite, a scanning acoustic spectroscope including the capability of obtaining both phase and amplitude of the ultrasonic wave (i.e., the complex V(z) curve method) was used. Then, the velocities of the SAW propagating within the specimens made in different conditions were measured. The experimental differences of the SAW velocities obtained in this experiment were ranging from 2,750 m/s to 2,850 m/s, and the theoretical difference was 3.6% under the assumption that the SAW velocity was 2,800 m/s. The error became smaller as the martensite content was increased. Therefore, the SAW velocity may be a probe to estimate the marternsite content.