In this article, a method is proposed for determining parameters of the exponentialy varying shear modulus of a functionally graded half-space. The method is based on the analytical solution of the problem of pure shear of an elastic functionally graded half-space by a strip punch. The half-space has the depth-wise exponential variation of its shear modulus, whose parameters are to be determined. The problem is reduced to an integral equation that is then solved by asymptotic methods. The analytical relations for contact stress under the punch, displacement of the free surface outside the contact area and other characteristics of the problem are studied with respect to the shear modulus parameters. The parameters of the functionally graded half-space shear modulus are determined (a) from the coincidence of theoretical and experimental values of contact stresses under the punch and from the coincidence of forces acting on the punch, or (b) from the coincidence of theoretical and experimental values of displacement of the free surface of the half-space outside the contact and coincidence of forces acting on the punch, or (c) from other conditions. The transcendental equations for determination of the shear modulus parameters in cases (a) and (b) are given. By adjusting the parameters of the shear modulus variation, the regions of “approximate-homogeneous” state in the functionally graded half-space are developed.