The motion of the common carotid artery (CCA) wall has been established to be useful in early diagnosis of atherosclerotic disease. However, tracking the CCA wall motion from ultrasound images remains a challenging task. In this paper, a nonlinear state-space approach has been developed to track CCA wall motion from ultrasound sequences. In this approach, a nonlinear state-space equation with a time-variant control signal was constructed from a mathematical model of the dynamics of the CCA wall. Then, the unscented Kalman filter (UKF) was adopted to solve the nonlinear state transfer function in order to evolve the state of the target tissue, which involves estimation of the motion trajectory of the CCA wall from noisy ultrasound images. The performance of this approach has been validated on 30 simulated ultrasound sequences and a real ultrasound dataset of 103 subjects by comparing the motion tracking results obtained in this study to those of three state-of-the-art methods and of the manual tracing method performed by two experienced ultrasound physicians. The experimental results demonstrated that the proposed approach is highly correlated with (intra-class correlation coefficient ≥ 0.9948 for the longitudinal motion and ≥ 0.9966 for the radial motion) and well agrees (the 95% confidence interval width is 0.8871 mm for the longitudinal motion and 0.4159 mm for the radial motion) with the manual tracing method on real data and also exhibits high accuracy on simulated data (0.1161 ~ 0.1260 mm). These results appear to demonstrate the effectiveness of the proposed approach for motion tracking of the CCA wall.