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This paper aims to characterize the elastic modulus of structural modified normal density (MND) and lightweight aggregate concrete (LWAC) produced with different types of expanded clay lightweight aggregates (LWA). A comprehensive experimental study was carried out involving different concrete strengths ranging from 30 to 70 MPa and density classes D1.6 to D2.0. The influence of several factors on the LWAC elastic modulus, such as the cement content, initial wetting conditions, type and volume of coarse LWA and the partial replacement of normal weight coarse and fine aggregates by LWA are analyzed. The strength and deformability of LWAC seems to be little affected by the addition of high reactive nanosilica. Reasonable correlations are found between the elastic modulus and the compressive strength or concrete density. The obtained LWAC elastic moduli are compared with those reported in the literature and those estimated from the main normative documents. In general, codes underestimate the LWAC modulus of elasticity by less than 20%. However, the MND modulus of elasticity can be greatly underestimated. In addition, the prediction of LWAC elastic modulus by means of non-destructive ultrasonic tests is studied. Dynamic elasticity modulus and ultrasonic pulse velocity results are reported and high correlated relationships, over 0.95, with the static modulus are established.