In order to estimate online conversion and polymer composition through sound velocity measurements, a mathematical model for calculating sound velocity in emulsion polymerization has been developed. With respect to previous modeling approaches, its main features are as follows: (1) the application to three-phase, reacting systems of Urick equation (usually adopted for estimating sound velocity in multiphase, dispersed, unreacting systems, such as emulsions and suspensions); and (2) the development of an empirical relationship for estimating particle compressibility as a function of conversion during the reaction. The model has been validated through several sets of experimental data of batch and semibatch homo- and copolymerizations involving styrene, butyl acrylate, vinyl acetate, and methyl methacrylate. In most of the examined cases, the performances of the calibration model are satisfactory.