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In this paper, we propose a method of surface waves characterization based on the deformation of the wavelet transform of the analysed signal. An estimate of the phase velocity (the group velocity) and the attenuation coefficient is carried out using a model-based approach to determine the propagation operator in the wavelet domain, which depends nonlinearly on a set of unknown parameters. These parameters explicitly define the phase velocity, the group velocity and the attenuation. Under the assumption that the difference between waveforms observed at a couple of stations is solely due to the dispersion characteristics and the intrinsic attenuation of the medium, we then seek to find the set of unknown parameters of this model. Finding the model parameters turns out to be that of an optimization problem, which is solved through the minimization of an appropriately defined cost function. We show that, unlike time–frequency methods that exploit only the square modulus of the transform, we can achieve a complete characterization of surface waves in a dispersive and attenuating medium. Using both synthetic examples and experimental data, we also show that it is in principle possible to separate different modes in both the time domain and the frequency domain. [ABSTRACT FROM AUTHOR]