The degradation effect, degradation mechanism, oxidation kinetics, and degradation products of Atrazine (ATZ) by Ultrasound/Peroxymonosulfate (US/PMS) in phosphate buffer (PB) under different conditions were studied. It turned out that the degradation rate of US/PMS to ATZ was 45.85% when the temperature of the reaction system, concentration of PMS, concentration of ATZ, ultrasonic intensity, and reaction time were 20 °C, 200 μmol/L, 1.25 μmol/L, 0.88 W/mL, and 60 min, respectively. Mechanism analysis showed that PB alone had no degradation effect on ATZ while PMS alone had extremely weak degradation effect on ATZ. HO• and SO4−• coexist in the US/PMS system, and the degradation of ATZ at pH7 is dominated by free radical degradation. Inorganic anion experiments revealed that Cl−, HCO3−, and NO3− showed inhibitory effects on the degradation of ATZ by US/PMS, with Cl− contributing the strongest inhibitory effect while NO3− showed the weakest suppression effect. According to the kinetic analysis, the degradation kinetics of ATZ by US/PMS was in line with the quasi-first-order reaction kinetics. ETA with concentration of 1 mmol/L reduced the degradation rate of ATZ by US/PMS to 10.91%. Product analysis indicated that the degradation of ATZ by US/PMS was mainly achieved by dealkylation, dichlorination, and hydroxylation, but the triazine ring was not degraded. A total of 10 kinds of ATZ degradation intermediates were found in this experiment.