The nonlinear ultrasonic evaluation technique is useful for assessing micro-defects and microstructure changes caused by fatigue or bending damage. In particular, the guided wave is advantageous for long-distance testing such as piping and plate. Despite these advantages, the study of nonlinear guided wave propagation has received relatively less attention compared to bulk wave techniques. Furthermore, there is a lack of research on the correlation between nonlinear parameters and material properties. In this study, the relationship between nonlinear parameters and plastic deformation resulting from bending damage was experimentally investigated using Lamb waves. The findings indicated an increase in the nonlinear parameter for the specimen, which was loaded within the elastic limit. Inversely, regions of maximum deflection in specimens with plastic deformation exhibited a decrease in the nonlinear parameter. This research is expected to be helpful for maintenance technology in the nuclear power plant and aerospace fields that require high reliability and accuracy.