Recently, many techniques have been developed for the inspection of pipelines using guided waves. However, few researches have been made on the application of those techniques for buried underground pipes. Guided wave motions in the buried pipes are somewhat different from those of on-ground pipes which have traction-free (air) boundary condition on outer pipe walls and thus are strongly affected by the mechanical property of the surrounding soils. Therefore, it should be investigated the effect of soil properties on the guided wave behavior in buried pipe. On the other hand, the mechanical property of soil is largely depending on its moisture conditions nevertheless of other influential factors such as void ratio. In this study, the effect of moisture conditions in soils on mode attenuation of guided waves in the buried pipe is investigated. To this end, numerical study is performed to characterize mode attenuation behavior in buried pipes and the effective mode which is suitable for long range inspection is identified.