Abstract: Magnetostrictive transducers for monitoring wall thinning in a pipe, and an apparatus and method for monitoring wall thinning in a pipe using magnetostrictive transducers are provided. The magnetostrictive transducers generate broadband multimode shear horizontal (SH) waves, and allow the generated SH waves to travel along the pipe, thus correctly monitoring a status of the wall thinning of the pipe. The apparatus includes a transmitting transducer which is installed outside of a pipe and generates shear horizontal (SH) waves traveling along the pipe, a receiving transducer which is spaced apart from the transmitting transducer and measures the shear horizontal (SH) waves traveling along the pipe, and a controller for monitoring wall thinning of the pipe by exciting and measuring output signals of the transmitting and receiving transducers.