An ultrasonic-wave system was developed to measure the rheological properties of non-Newtonian materials based on their responses to shear and pressure waves. This system was composed of a commercial shear wave transducer and various homemade devices, including a signal generator, a signal conditioner, and a transmission/receiving switch. The shear wave reflections at the interface between the delay line and the unknown test materials can be interpreted by the signals measured with calibration materials (e.g. air, water, olive oil and honey) that have well-known rheological properties. If the Voigt viscoelastic model is used to describe the dynamic behaviour of these test materials, the interpreted data can be used to determine the acoustic impedances, and thus solve for their shear moduli (G), kinematic viscosities (ν) and bulk densities (ρ). After the calibration procedures, the proposed system was used to test a consolidating kaolinite slurry with zero salinity and an initial suspended sediment concentration of 420 g l–1. The measurements showed that the shear modulus G is developed until consolidation for approximately 100 h. Afterward, the G gradually approached a value on the order of 500 N m–2 after approximately 200 h. This corresponded to an initial viscosity of approximately 7 × 10−5 m2 s–1, which decreased slowly over time to approximately 4 × 10−6 m2 s–1 after 300 h. With minor modification to capture pressure waves from the shear wave transducer, the bulk density can also be measured. The integrated system offers a non-invasive and efficient method for characterizing non-Newtonian fluids, providing valuable insights into their rheological properties, which are crucial for a wide range of industrial and scientific applications.