This study presents the ultrasonic characterization of conductive epoxy resin (ER)/polyaniline (PANI) composites. The prepared PANI is mixed with ER matrix at weight percentages of 5%, 10%, and 15% for preparing the ER/PANI composites. The effects of PANI amount on the mechanical properties of ER/PANI composites are investigated by ultrasonic pulse‐echo‐overlap method. Also, electrical conductivity, ultrasonic wave velocity and ultrasonic micro‐hardness values of ER/PANI composites are correlated. Experimental results show that there is an excellent correlation between ultrasonic micro‐hardness and ultrasonic shear wave velocity. Also, the results of ultrasonic velocities and elastic constants values illustrate that the appropriate combination ratio is 95 : 5 for ER and PANI in ER/PANI composites. © 2015 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2015, 132, 42748.