This disclosure provides an ultrasonic bone analyzing device and which includes a transmission module (1 and 2) for transmitting an ultrasonic signal into the inside of a living body from an outer skin of the living body and a reception module (3) for receiving an echo signal that is a reflection wave of the transmitted ultrasonic signal from the inside of the living body and an analyzing module (4) for generating analysis data indicative of a state of a cartilage using an amplitude value of an echo signal from the inside of the cartilage obtained from between a cartilage surface and a subchondral bone among the received echo signals.
