For the first time, the acoustic velocities and elasticity of double hexagonal close-packed neodymium (Nd) were measured at high pressure using ultrasonic interferometry in conjunction with synchrotron X-ray techniques. Both the compressional and shear wave velocities increased with an increase in pressure of up to ~5.4 GPa before they exhibited almost constant values upon further compression. This pressure-induced elastic wave velocity softening can be attributed to the structural instability in dhcp-Nd. From the current sound velocities and density data, we obtained new bulk and shear moduli as well as their pressure dependence for polycrystalline dhcp-Nd, yielding B0 = 33.2(9) GPa, G0 = 14.1(5) GPa, ∂B/∂P=3.6(4), and ∂G/∂P=1.3(2), while other elasticity-related/mechanical properties, including Young's modulus, Debye temperature, Poisson's ratio, and Grüneisen parameter, which are important parameters for the application of Nd in extreme environments, were also derived.