A method to measure liquid level and electrical properties based on ultra-wideband pulsed radar is developed in this paper. Current methods of material property measurement using free-space radar typically use computationally intensive frequency-domain analysis or finite time-domain methods. The method presented is modified from layer-stripping algorithms and includes several improvements over previous techniques, such as an antenna array that allows measurement in a metallic tank environment and a method of calibration that characterizes path-loss and near-field effects for accurate amplitude-distance prediction. The method presented here also estimates the material loss properties and uses accumulated power with noise compensation to predict reflected pulse power. The method extends the use of pulsed radar for liquid-level measurement in tanks to the evaluation of liquid permittivity and the estimation of liquid height in liquids consisting of multiple layers. The accuracy of the presented method is evaluated using a transmitting single antenna element, a four-element antenna array, and an eight-element antenna array for measurement in a metallic tank environment. Accuracy is improved with larger antenna arrays, but the calibration becomes more critical. The accuracy for varying layer heights and materials is investigated to demonstrate the method reliability.