Time delay estimation has been used as a research area of significant practical important in many fields such as especially military system like localization, targeting, course acquisition also sonar, seismology, hands-free communications etc. In these applications, it is important to detect the delay and arrival times of ultrasonic echoes comprised in the medium for ultrasonic signals. Here, it is aimed to determine the time delay between the signals arrived from a signal source in order to detect the location. Hence, a system is suggested that uses a multi-surfaced waveguide with only one receiver instead of using receiver arrays. By using this structure, time delay estimation is compared for different signal-to-noise ratios with Cross-Correlation, Maximum Likelihood and Phase Transform methods.