Quite often, concrete strength parameters must be determined in the shortest possible time. Due to the strong correlation between concrete’s mechanical and acoustic properties, ultrasonic devices can be used for this purpose. However, the ultrasonic pulse velocity (UPV) is influenced by a variety of factors, including the curing and exploitation conditions of the concrete, the presence of reinforcement, and other various physical factors. Ignoring these factors may contribute to the misinterpretation of the measurement data when determining the strength of the concrete. Typically, all these factors are analyzed independently. This publication consolidates the findings obtained from our research efforts and field expertise over the past two decades. It outlines the elaborated UPV measurement methodology based on the integration of a four-argument function: the hydration process phase of the hardened cement paste (or concrete aged three days and older), hardening (curing) condition, concrete moisture level, and ambient temperature. To understand the interactions of the key factors, different ultrasonic devices were used to measure the velocities of longitudinal and surface waves in concrete by applying direct and indirect transmission methods when concrete specimens were tested under different moisture and temperature conditions.