This paper presents an experimental study on the assessment of the cement-based materials properties made with marble powder (MP) at different replacement ratios (0%, 5%, 10%, and 15%) of cement by using the ultrasonic pulse velocity (UPV) test. The used MP has a Blaine fineness similar to that of Portland cement. The physical and the chemical characteristics of Portland cement and MP were determined. To determine the UPV values, cubic specimens (50 × 50 × 50 mm3) of cement paste and mortar were prepared and cured either in air at a temperature equal to 22 ± 2 °C and relative humidity equal to 20 ± 1%, or in water at a temperature equal to 20 ± 1 °C. The experimental tests including the UPV, the compressive strength (fcd), and the apparent density (ϒad) were conducted at 3, 7, 28, and 65 days, the relationship between each of these parameters were presented. Additionally, economic performance of cement and waste MP used in this study was performed. The results show that the use of MP as partial replacement of cement causes a decrease in the compressive strength and apparent density in both curing conditions. In addition, the results show a good relationship between the destructive test and non-destructive test adopted by UPV.