This work investigates the relationship between the creep-fatigue life and ultrasonic test of creep-fatigue damage. Under the creep-fatigue interaction, the main cause of life reduction is the initiation and growth of microvoid with increasing hold time. The number/size of microvoid/cavity, the fraction of cavity area varied with the hold time. Therefore, the life evaluation using the microvoid with the variation of hold time is very informative for safety of components in power plants. In this study, using the heat resisting alloy, P122 steel for USC (ultra super critical) power plant, the creep-fatigue tests with various hold times and their ultrasonic inspection were carried out for the purpose of evaluation for creep-fatigue life. The results obtained by Rayleigh surface wave of backscattered ultrasound were compared and analyzed with the experimental parameters. The good agreement between the experimental life and the predicted life was obtained.