In this paper, the issue of the determination of both thickness and elastic characteristics from the propagation of multiple Lamb waves on ex-vivo human long cortical bones is addressed. Prior to the measurements on bone, the method is validated on cortical bone-mimicking phantoms. The experimental setup was previously developed for clinical measurement and the multi-Lamb mode response is analyzed using the singular value decomposition signal processing method recently introduced in the field. The repeatability and the trueness of the estimated parameters on bone-mimicking phantoms were found around a few percent. Estimation of cortical thickness on bone samples was in good agreement with cortical thickness derived from high-resolution peripheral quantitative computed tomography data analysis of the samples.