Nondestructive measurement of the concrete strength is an important topic of research. Among different nondestructive testing (NDT) methods the ultrasonic pulse velocity (UPV) technique is the most popular method for concrete strength estimation. While measuring concrete strength by this method almost all researchers have neglected the effect of applied stress or load on the concrete member. In this investigation attempts were made to properly incorporate the effect of the applied load on the strength prediction of concrete specimens from UPV value. To achieve this goal, 4 groups of concrete specimens with different values of final strength were made. Materials used for making cylindrical specimens of 3 inch diameter and 6 inch height included regular Portland cement, water and two types of aggregate - fine and coarse. After applying the load on the specimen in multiple steps - up to 70% of its failure strength - the time of flight (TOF) value was measured for every loading step. The recorded results showed that applied load on the member has significant effect on the measured UPV value on concrete specimens. Therefore, to find the strength of the concrete from the UPV value, the applied load on the sample should be considered as an important factor that cannot be neglected.