Electrochemical material characterization method was applied to the creep specimens of 12%Cr ferritic steel to evaluate the changes in precipitates during creep. Experimental results revealed that the peak current densities “Ip1” and “Ip2” appeared at specific potentials during anodic polarization curve measurement in 1M-KOH solution. These peak current densities corresponded to the selective dissolution of several kinds of precipitates, respectively. The Ip2, which reflected the amount of M23C6 and Laves phase, increased more siginificantly with creep than thermal aging. On the other hand, the effect of applied stress was not reflected on the change in Ip1, although it increased with thermal aging and creep as well as the Ip2.