As opposed to the conventional pulse-echo (B-scan) technique, through-transmitted ultrasonic waves can provide quantitative information on the acoustic properties of tissues. Additionally, in order to improve the specificity of ultrasonic imaging, the use of microbubbles as an ultrasound contrast agent (UCA) combined with the B-mode technique has been suggested. The goal of this research was to analyze the acoustic properties changes associated with the propagation of ultrasonic waves through media before and after UCA injection, and study the feasibility of a new imaging method combining acoustic projection imaging and injected UCA. A computerized automatic ultrasonic scanning system was built. In order to simulate blood vessels, a phantom, consisting of a latex tube through which saline was circulated, was assembled. The phantom was placed within the scanner and sets of acoustic projection images were acquired. Next, a solution of the UCA Definity™ was added to the saline and a new set of images was obtained. The pre and post-contrast images were then quantitatively compared. Significant changes in the projection images resulting from the UCA injection were observed in the wave amplitude (10% to 40%) and time of flight (up to 8.9%). Non-linearity was measured by comparing the relative alteration of the positive and negative parts of the signal, and was also found to be significant. These results indicate the technical feasibility of the suggested method, which combines acoustic projection imaging and UCA, and its potential to detect and characterize tumors.