Dispersion is encountered very often in ultrasonic guided waves, and may decrease the performance for damage detection significantly. For this reason, many signal processing methods have been proposed to obtain each mode under serious dispersion. In this paper, a new scheme is established for waveform design to suppress the dispersion such that each wave packet can be separated clearly. In this method, the dispersion effect of the guided wave is pre-compensated for a particular distance as it propagates through the structure. The relationship between the resolvable resolution and the waveform parameters is discussed; this relationship is employed as a guide to separately identify the wave packets caused by different structural features. Subsequently, an experiment is carried out to compare the performance of the proposed method with the time-reversal method. By using the proposed method, closely distributed structural features can be recognized with ease in the time domain.