We have measured by means of four ultrasonic transducers the fall velocity of a sphere at high Reynolds number range in dilute polyacrylamide solutions which have viscoelastic effects. The polymer solutions were 5, 20 and 50 ppm in the concentration. Basset-Bousinessq-Oseen equation for the falling sphere was analyzed numerically on Newtonian fluids in order to compare with the fall velocity of a sphere in the polymer solutions, and the experimental data of the fall velocity in tap water is in agreement with the range of no effect of the test tank wall. In polymer solutions, it was shown that the fall velocity is larger than that in Newtonian fluids within the critical Reynolds number range such that the drag reduction occurs and is smaller than that of Newtonian fluids over the range. The experimental data for the drag reduction ratio of polymer solutions is arranged by Weissenberg number calculating the experimental data of the first normal stress differences. It was shown that the maximum drag reduction ratio in the polymer solutions lies in the range of We = 3 similar to 10.