Thermal barrier coatings (TBCs) are usually used in high temperature and harsh environment, resulting in thinning or even spalling off. Hence, it is vital to detect the thickness of the TBCs. In this study, a hybrid machine learning model combined with terahertz time-domain spectroscopy technology was designed to predict the thickness of TBCs. The terahertz signals were obtained from the samples prepared in laboratory and actual turbine blade. The principal component analysis (PCA) method was used to decrease the data dimensions. Finally, an extreme learning machine (ELM) was proposed to establish the thickness of TBCs prediction model. Genetic algorithm (GA) was selected to optimize the model to make it more accurate. The results showed that the root correlation coefficient (R2) exceeded 0.97 and the errors (root mean square error and mean absolute percentage error) were less than 2.57. This study proposes that terahertz time-domain technology combined with PCA–GA–ELM model is accurate and feasible for evaluating the thickness of the TBCs.