Guided wave technology is advantageous for fast inspection of pipe wall thinning since the guided wave propagates long distance. In this investigation, the method to evaluate gradual wall thinning in a pipe based on the arrival time delay with magnetostrictive patch transducers is presented. Low frequency A0 Lamb waves were generated and measured by the present transducer and it was applied to arrival time delay measurement experiments on a test pipe having gradual wall thinnings artificially manufactured. From experiments, consistent results that wall thinning increases the arrival time delay of A0 waves were obtained. Consequently, the feasibility of the magnetostrictive patch transducers to evaluate wall thinning was verified.