The invention relates to an ultrasonic displacement measurement system (1), which in particular can be used for hydraulic accumulators (3) having at least one movable separating element (5), which separates two media chambers (9, 11) from each other preferably in a media-tight manner within a housing (7), wherein the one media chamber (9) holds a compressible fluid or an incompressible fluid and the other media chamber (11) holds a compressible fluid, in particular in the form of a working gas, wherein the particular position of the movable separating element (5) within the housing (7) can be detected by means of at least one ultrasonic sensor (13), is characterized in that the at least one ultrasonic sensor (13) performs the position detection of the separating element (5) on the side of the other media chamber (11) having the compressible fluid. The invention further relates to a method for ultrasonic displacement measurement by means of such a system.