In the development of Molten Carbonate Fuel Cell, one of the serious problems is the dissolution of cathode material. Therefore, the development of the alternative cathode which is stable in molten carbonate is needed. In this research, the licoo, was chosen as alternative cathode material. $LiCoO_2$ powder was synthesized by high temperature calcination method and by citrate sol-gel method. And its structure and physical iharacteristics were analyzed by XRD, 1 R, TCA and porosimeter. The conductivity and solubility of $LiCoO_2$ electrode were also measured. Homogeneous $LiCoO_2$ Powder was obtained by citrate sol-Rel method at 445$^{circ}C$, however, obtained above 75$0^{circ}C$ by high temperature calcination method. Homogeneous particle size distribution and fine powder were obtained by the citrate sol-Rel method. $LiCoO_2$ electrode showed higher electric conductivity ($1.7 $Omega$^{-1}cm^{-1}$</TEX>) than NiO (0.1 $Omega$^{-9} cm^{-1}) at $650^{circ}C$. The solubilities of $LiCoO_2$ electrode in electrolyte were varies 0.6 to 1.0 ppm during 200 hours. So, the solubilities of $LiCoO_2$ were much lower than that of NiO. bility