A system and method for improved ultrasound strain imaging includes using data from a tracking system to enhance the quality of ultrasound strain image and to reduce the dependency of image quality of the user's expertise. The tracking information is synchronized with the RF frames and interpolated to find the transformation corresponding to each frame. The RF frames with their transformations are incorporated into calculation of ultrasound strain images. The tracking system may be an optical tracker, electromagnetic tracker, accelerometer, or a structured light system. The structured light system may also be used for probe calibration, by calibrating the surface of the probe pre-operatively. In addition, a relative Young's Modulus may be calculated using tracking information that is independent from the distribution of input force.