Limestone is an important industrial raw material. It is consumed by chemical and other industries (84%), used as refractory and road construction material (12%) and applied in civil engineering and agricultural applications (4%). Substantial amounts of limestone are also used as lime in the iron and steel industry. The aim of this study was to determine the properties of limestones. The chemical, physical and thermal properties of limestones were determined by standard methods while the P-wave velocities of limestones were measured with an ultrasonic non-destructive tester and relationships between limestone properties were estimated. It was found that there is a statistical correlation between physical properties and the P-wave velocity of limestones. The P-wave velocity is a very good characteristic parameter for the study and estimation of the limestone quality.