The real-time, accurate measurement of submerged topography is vital for the analysis of riverbed erosion and deposition. This paper describes a novel method of measuring submerged topography in the B-scan image obtained using an ultrasound imaging device. Results show the distribution of gray values in the image has a process of mutation. This mutation process can be used to adaptively track the topographic lines between riverbed and water, based on the continuity of topography in the horizontal direction. The extracted topographic lines, of one pixel width, are processed by a wavelet filtering method. Compared with the actual topography, the measurement accuracy is within 1 mm. It is suitable for the real-time measurement and analysis of all current model topographies with the advantage of good self-adaptation. In particular, it is visible and intuitive for muddy water in the movable-bed model experiment.