Ultrasonic testing (UT) is increasingly combined with machine learning (ML) techniques for intelligently identifying damage. Extracting significant features from UT data is essential for efficient defect characterization. Moreover, the hidden physics behind ML is unexplained, reducing the generalization capability and versatility of ML methods in UT. In this paper, a generally applicable ML framework based on the model interpretation strategy is proposed to improve the detection accuracy and computational efficiency of UT. Firstly, multi-domain features are extracted from the UT signals with signal processing techniques to construct an initial feature space. Subsequently, a feature selection method based on model interpretable strategy (FS-MIS) is innovatively developed by integrating Shapley additive explanation (SHAP), filter method, embedded method and wrapper method. The most effective ML model and the optimal feature subset with better correlation to the target defects are determined self-adaptively. The proposed framework is validated by identifying and locating side-drilled holes (SDHs) with 0.5λ central distance and different depths. An ultrasonic array probe is adopted to acquire FMC datasets from several aluminum alloy specimens containing two SDHs by experiments. The optimal feature subset selected by FS-MIS is set as the input of the chosen ML model to train and predict the times of arrival (ToAs) of the scattered waves emitted by adjacent SDHs. The experimental results demonstrate that the relative errors of the predicted ToAs are all below 3.67% with an average error of 0.25%, significantly improving the time resolution of UT signals. On this basis, the predicted ToAs are assigned to the corresponding original signals for decoupling overlapped pulse-echoes and reconstructing high-resolution FMC datasets. The imaging resolution is enhanced to 0.5λ by implementing the total focusing method (TFM). The relative errors of hole depths and central distance are no more than 0.51% and 3.57%, respectively. Finally, the superior performance of the proposed FS-MIS is validated by comparing it with initial feature space and conventional dimensionality reduction techniques.