A newly developed point-source/point-receiver (PS/PR) acoustic transducer is used for measuring the depth of surface-breaking cracks. The transducer consists of two miniature conical PZT elements which form a transmitter/receiver pair for generating and detecting surface waves. A tone-burst measurement system operates the PS/PR transducer at a fixed frequency. When a surface-breaking crack is present in between the transmitter and receiver, the change in time-of-flight of surface wave propagation caused by the crack is measured and used to estimate the crack depth. To verify the feasibility of this method, machined slots on a carbon steel sample are tested by the PS/PR transducer for crack depth determination. Good experimental results are obtained. Future applications and improvements on the PS/PR transducer system are addressed.