Millions of miles of pipes are being used for the transportation, distribution, and local use of petroleum products, gas, water, and chemicals. Most of the pipes are buried in soil, leading to the significance of the study on the subject of guided wave propagation in pipes with soil influence. Previous investigations of ultrasonic guided wave propagation in an elastic hollow cylinder and in an elastic hollow cylinder coated with a viscoelastic material have led to the development of inspection techniques for bare and coated pipes. However, the lack of investigation on guided wave propagation in hollow cylinders embedded in infinite media like soil has hindered the development of pipe inspection methods. Therefore the influence of infinite media on wave propagation is explored in this paper. Dispersion curves and wave structures of both axisymmetric and nonaxisymmetric wave modes are developed. Due to the importance of the convergence of numerical calculations, the requirements of thickness and element number of the finite soil layer between hollow cylinder and infinite element layer are discussed, and an optimal combination is obtained in this paper. Wave structures are used for the mode identification in the non-monotonic region caused by the viscoelastic properties of coating and infinite media.