The SBF (short baseline framework) is commonly used in ultrasonic parameter measurement, and ToF (time of flight) of which is essential in sound velocimeter and other applications. Different from general ultrasonic measurement research work mainly on ToF estimation method, this paper studies the criterion and way of establishing the optimum signal. For given transducers, the optimum signal achieves the most accuracy, and the pulsed form signal is stress here. To find the optimum signal, firstly, the transmitting is illustrated in its Fourier series form, which establishes the waveform, and the problem of transmitting wave design is converted into finding the optimum Fourier series. Secondly, as the accuracy is in inverse ratio to the sensitivity of the measured signal, the problem of finding the optimum Fourier series is equivalent to maximizing the sensitivity, resulting into a form of nonlinear optimization problem. For optimum parameter derivation, the sensitivity is expressed in form of vector and matrix, and a novel method based on SCHUR decomposition on the matrix is proposed to solve the nonlinear optimization problem. Simulation with a typical narrowband system testifies that the proposed method can synthesize transmitting waveform efficiently.