Stress wave propagation through concrete is simulated by finite element analysis. The concrete medium is modeled as a homogeneous material with smeared properties to investigate and establish the suitable finite element analysis method (explicit versus implicit) and analysis parameters (element size, and solution time increment) also suitable for rigorous investigation. In the next step, finite element analysis model of the medium is developed using a digital image processing technique, which distinguishes the mortar and aggregate phases of concrete. The mortar and aggregate phase topologies are, then, directly mapped to the finite element mesh to form a heterogeneous concrete model. The heterogeneous concrete model is then used to simulate wave propagation. The veracity of the model is demonstrated by evaluating the intrinsic parameters of nondestructive ultrasonic pulse velocity testing of concrete. Quantitative relationships between aggregate size and testing frequency for nondestructive testing are presented.