This paper presents the results of the authors' laboratory testing of physical, mechanical and durability properties of Ultra-high Performance Concrete (UHPC). The short history of development and application of UHPC concrete is presented in the first part of this paper while the second part deals with the experimental investigation, presenting the results of material characterization obtained from physical-mechanical and durability tests. Based on the results shown in the paper, the mean value of compressive strength obtained at 28 days is 114 MPa, with the average density of 2270 kg/m3 in hardened state. The results showed that tested UHPC belongs to the highest class of water impermeability V-III, as well as the highest class MS0 (without visible damage) in a simulated freeze-thaw environment and de-icing salt attack test. Also, the highest class XM3 for abrasion resistance was achieved. Additional tests showed that the tested concrete fulfils the requirements for the highest exposure classes XC4 and XD4, in terms of resistance to carbonation and the penetration of chloride ions. Conclusions and recommendations for further development and possible application of UHPC are presented at the end of paper.