A study on corrosion evaluation by using ultrasonic waves and acoustic emission technique is presented. The experimental equipment was established to improve the corrosion process of carbon steel pipe. The carbon steel pipe was under 473K temperatures and 10Mpa pressure conditions, and ultrasonic wave and acoustic emission techniques were used to inspect the degree of corrosion after a certain period of time. Ultrasonic bulk waves are limited by the poor time resolution when used in the measurement of corrosion depth in thin wall structures because the corroded surfaces cause unclear echo signal edges. Therefore, in this study, the ultrasonic guided waves were generated on the pipe because the thickness of pipe was thin. Various wave modes were subsequently generated on the pipe to evaluate the implications of corrosion thinning on group velocity, transmission and reflection amplitudes. The amplitudes of the transmitted and the reflected waves are influenced by couplent material. In order to reduce the effect of coupling acoustic emission sensor was used. Acoustic emission technique has lots of parameters to evaluate the corrosion besides amplitude parameter. Among parameters energy, count, and frequency were useful parameters to measure the degree of corrosion inside the carbon steel pipe under 473K temperatures.