Magnetic field dependence of magnetization reversal in Co/Pt multilayers was quantitatively investigated. Serial samples of Co/Pt multilayers were prepared by dc-magnetron sputtering under various Ar pressures. Magnetization reversal was monitored by magnetization viscosity measurement and direct domain observation using a magneto-optical microscope system, and the wall-motion speed V and the nucleation rate R were determined using a domain reversal model based on time-resolved domain reversal patterns. Both V and R were found to be exponentially dependent on the applied reversing field. From the exponential dependencies, the activation volumes for wall motion and nucleation could be determined, based on a thermally activated relaxation model, and the wall-motion activation volume was found to be slightly larger than the nucleation activation volume.