A technique is presented that uses a circular waveguide for the measurement of the bulk shear(S-wave) velocities of unconsolidated, saturated media, with particular application to near surface soils. The technique requires the measurement of the attenuation characteristics of the fumdamental T(0,1) mode that propagates along an embedded pipe, from which the acoustic properties of the surrounding medium are inferred. From the dispersion curve analysis, the feasibility of using T(0,1) mode which is non-dispersive and have constant attenuation over all frequency range is discussed. The principles behind the technique are discussed and the results of an experimental laboratory validation are presented. The experimental data are best fitted for the different depths of wetted sand and the shear velocities as a function of depths are formulated using power law curves.