Localizing a source of radial movement at moderate range using a single hydrophone can be achieved in the reliable acoustic path by tracking the time delays between the direct and surface-reflected arrivals (D-SR time delays). The problem is defined as a joint estimation of the depth, initial range, and speed of the source, which are the state parameters for the extended Kalman filter (EKF). The D-SR time delays extracted from the autocorrelation functions are the measurements for the EKF. Experimental results using pseudorandom signals show that accurate localization results are achieved by offline iteration of the EKF.