The on-line monitoring for the wall thinning in secondary system has been considered one of main issues for the safety of nuclear power plants. To establish the on-line monitoring technique for the pipe wall thinning, the development of the ultrasonic transducer working in high-temperature is very important. In this investigation, the magnetostrictive transducer is concerned for high temperature condition up to $300^{circ}C$. The magnetostrictive transducer has many advantages such as high working temperature, durability, cost-effectiveness, and shear waves, most of all. A thin Fe-Co alloy patch whose Curie temperature is over $900^{circ}C$ was employed as a ferromagnetic material for magnetostriction. Wave transduction experiments in various temperature were carried out and the effect of bias magnets was considered together with the dry coupling performance of the transducer. From experimental results, consequently, it was found that the magnetostrictive transducer works stable even in high temperature up to $300^{circ}C$ and can be a promising method for the on-line monitoring of the wall thinning in nuclear power plants.