To achieve a stable evaluation of the linear viscoelasticity of bubble suspensions, which have difficulties for conventional rheometers from spatial distributions of rheological properties with bubble deformations, we proposed a novel rheometry based on spatio-temporal velocity data obtained by ultrasonic velocity profiling (UVP). A frequency-domain algorithm was adopted to overcome a critical influence of measurement noise on the rheological assessment, which is inferred from error propagation characteristics through the equations of motion in discretized form. Applicability and advantage of the present rheometry with the frequency-domain algorithm were verified by two kinds of fluids: high viscous oil as a Newtonian fluid and polyacrylamide aqueous solution as a shear thinning, viscoelastic fluid. The rheometry was finally adopted for bubble suspensions subject to high oscillatory shear, and it could validly extract elasticity-originated momentum transfer as a function of space.