We report a method to monitor the setting process of bone-graft substitutes (calcium sulfate) using ultrasonic backscattering techniques. Analyzing the backscattered fields using a pulse-echo technique, we show that it is possible to dynamically describe the acoustic properties of the material which are linked to its setting state. Several experiments were performed to control the setting process of calcium sulfate using a 3.5-MHz transducer. The variation of the apparent integrated backscatter (AIB) with time during the setting process is analyzed and compared with measurements of the speed of sound (SOS) and temperature of the sample. The correlation of SOS and AIB allows us to clearly identify two different states of the samples, liquid and solid, in addition to the transition period. Results show that using backscattering analysis, the setting state of the material can be estimated with a threshold of 15 dB. This ultrasonic technique is indeed the first step to develop real-time monitoring systems for time-varying complex media as those present in bone regeneration for dental implantology applications.