In order to study the changes of physical and mechanical properties of limestone under different freeze-thaw cycles, uniaxial compression tests were carried out on limestone under different freeze-thaw cycles by using fast freeze-thaw machine and 2 000 KN triaxial compression testing machine, and the stress-strain relationship curves of freeze-thaw limestone were obtained. The results show that the compressive strength, elastic modulus and Poisson"s ratio decrease gradually with the increase of freeze-thaw times, and the degree of reduction obeys exponential attenuation model. Before 20 freeze-thaw cycles, the plastic stage of stress-strain curve of rock samples is not obvious. With the increase of freeze-thaw times, the plastic characteristics become obvious gradually, and the brittleness of rock samples decreases gradually. The experimental results show that the wave velocity of saturated rock samples under different freeze-thaw cycles is higher than that under dry condition, and decreases exponentially with the increase of freeze-thaw cycles. Finally, a freeze-thaw damage equation with rock dynamic elastic modulus as damage variable is established based on wave velocity. The fitting results show that the damage increases with the increase of freeze-thaw times, but the growth rate decreases gradually.