The pulsating flow of a fluid with dusty particles in a prestressed thick walled elastic tube has been studied. The tube, subjected to a static inner pressure P; and an axial stretch, is taken to be an incompressible, isotropic, elastic material. The fluid with particles is treated as incompressible Newtonian. Employing the theory of small deformation superimposed on large initial deformations, for an axially symmetric perturbed motion the governing equations are obtained in cylindrical polar coordinates. The analytical solutions of the equations of motion for the dust and the fluid have been obtained. Because of the variable character of the coefficients of the resulting equations for the solid body they are solved numerically. The dispersion relation is obtained as a function of the stretch, the thickness ratio and the parameters for dusty particles.