In the present study, tubular polyvinyl chloride (PVC) cortical bone mimics that simulate the cortical shell of long bones were used to validate the axial transmission technique for assessing the cortical thickness by measuring the ultrasonic velocities along the cortical shell of long bones. The ultrasonic velocities in the 9 PVC cortical bone mimics with wall thicknesses from 4.0 to 16.1 mm and inner diameters from 40 to 300 mm were measured as a function of the thickness by using a pair of custom-made transducers with a diameter of 12.7 mm and a center frequency of 200 kHz. In order to clarify the measured behavior, they were also compared with the predictions from a theory of guided waves in thin plates. This phantom study using the PVC cortical bone mimics provides useful insight into the dependencies of ultrasonic velocities on the cortical thickness in human long bones.