A method for measuring properties of a cold rolled thin steel sheet, comprising the determination, by using a resonant electromagnetic ultrasonic wave sensor for a standing wave, of the ratio of a thickness resonant frequency of a transverse ultrasonic wave propagating within a cold rolled thin steel sheet in the direction of thickness while polarized in a direction parallel to the direction of rolling to a thickness resonant frequency of a longitudinal ultrasonic wave propagating within the cold rolled thin steel sheet in the direction of thickness, and the ratio of a resonant frequency of a transverse ultrasonic wave propagating within the cold rolled thin steel sheet in the direction of thickness while polarized in a direction normal to the direction of rolling to a thickness resonant frequency of a longitudinal ultrasonic wave propagating in the direction of thickness, and approximately determining the Young's modulus and the Lankford value according to a computing formula using the resultant two measured -ratio values, the sound speed ratio of a SH0 plate wave regarded as a constant value and a known value of modulus of elasticity; and an apparatus for measuring properties of a cold rolled thin steel sheet comprising an electromagnetic ultrasonic wave device, a computing device and a controlling device for executing the measurement of properties and the computation.