The paper studies the applicability of the acoustoelasticity method to estimation of the strain-stress state under cyclic loading. It has been found that the uniform distributions of the acoustic anisotropy along the working part of the sample and of the velocities of longitudinal and transverse ultrasonic waves become non-uniform substantially with an increase in the number of stress cycles. Moreover, the largest absolute values of the acoustic anisotropy fell on the points with the largest plastic deformations, in particular, in the area of the sample dispersion. The effect was being recorded from the early stages of the sample loading till the fracture of the sample.