Non-destructive tests (NDTs) represent one of the solutions that aid engineers in evaluating the strength of materials. However, the results obtained using such tests are still questionable as they may be affected by different factors. One of these factors is the presence of steel reinforcement in concrete. An experimental investigation is presented in this study to investigate the effect of the single reinforcement steel bar on ultrasonic pulse velocity (UPV). Seven concrete beams, one containing no steel and the other six beams containing varying bar diameter and cover thicknesses, were tested. UPV measurements were obtained using the indirect method and then modified to eliminate the effect of the steel bar. To provide the scientific evidence to give a reliable and reasonable solution, a statistical analysis was also conducted. The results show that a large bar diameter and a small cover thickness significantly influence the measured UPV. Measured UPV with a spacing between transducers up to 500 mm can effectively be used to predict the compressive strength of concrete after the modification of the initial UPV.