We are concerned with a class of degenerate diffusion equations with time delay describing population dynamics with age structure. In our recent study [Nonlinearity, 33 (2020), 4013-4029], we established the existence and uniqueness of critical traveling wave for the time-delayed degenerate diffusion equations, and obtained the reducing mechanism of time delay on critical wave speed. In this paper, we now are able to show the asymptotic spreading speed and its coincidence with the critical wave speed c * (m, r) of sharp wave, and prove that the initial perturbation or the boundary of the compact support of the solution propagates at the critical wave speed c * (m, r) for the time-delayed degenerate diffusion equations. Remarkably, different from the existing studies related to spreading speeds, the time delay and the degenerate diffusion lead to some essential difficulties in the analysis of the spreading speed, because the time-delay makes the critical speed of traveling waves slow down, and the degenerate diffusion causes the loss of regularity for the solutions. By a new phase transform technique combining with the monotone method, we can determine the asymptotic spreading speed.