Ultrasound propagation is widely used in the diagnosis of osteoporosis by providing information on bone mechanical quality. When it loses calcium, the tissue properties will first decrease. However, limited research about the influence of tissue properties on ultrasound propagation have been done due to the cumbersome experiment. The goal of this study was to explore the relationships between tissue modulus (Es) and speed of sound (SOS) through numerical simulations, and to study the influence of Es on the acoustical behavior in characterizing the local structural anisotropy and inhomogeneity. In this work, three-dimensional finite element (FE) simulations were performed on a cubic high-resolution (15μm) bovine trabecular bone sample (4×4×4mm(3), BV/TV=0.18) mapped from micro-computed tomography. Ultrasound excitations of 50kHz, 500kHz and 2MHz were applied in three orthogonal axes and the first arriving signal (FAS) was collected to quantify wave velocity. In this study, a strong power law relationship between Es and SOS was measured with estimated exponential index β=2.08-3.44 for proximal-distal (PD), anterior-posterior (AP) and medial-lateral (ML), respectively (all R(2)>0.95). For various Es, a positive dispersion of sound speed with respect to sound frequency was observed and the velocity dispersion magnitude (VDM) was measured. Also, with Es=15GPa in three orientations, the SOS in PD axis is 2009±120m/s, faster than that of AP (1762±106m/s) and ML (1798±132m/s) (f=2MHz) directions. Besides, the standard deviation of SOS increases with the sound frequency and the Es in all directions except for that at 50kHz. For the mechanical properties, the apparent modulus with certain Es was highest in the longitudinal direction compared with the transverse directions. It indicates that the tissue modulus combining with anisotropy and inhomogeneity has great influence on ultrasound propagation. Simulation results agree well with theoretical and experimental results.