Abstract Electric propulsion offers the advantage of a high specific impulse through a large exhaust velocity and has seen significant progress in space flight applications. Recently, we observed a transient plasma shockwave during pulsed plasma thruster operation when the plasma beam impacted a probe surface. However, details regarding the plasma shockwave formation are still unknown. This work is an experimental investigation of the compression-induced plasma shockwave in the presence of a planar obstruction. To study the complete shockwave buildup and dissipation process, an ultra-high-speed imaging system was set up to visualize the time-resolved shockwave morphology at a sub-microsecond level. In addition, the local magnetic field and plasma density were measured using 2D magnetic coils and a triple Langmuir probe, respectively. The successive images of the shockwave give us a comprehensive understanding of the shockwave buildup process. During the 12 μs operational period of the thruster, two shockwaves were formed during the first cycle of the discharge. It is also interesting to note that there is a 1 μs dissipation period between the two shockwaves with the same cloud of plasma compressing against the probe surface. A shockwave model is also developed to predict the appearance of the two shockwaves. The implication is that the local magnetic field strength can be a key indicator for the plasma shockwave buildup and dissipation process.