Fatigue strength of hull structural steel plate, extracted from longitudinal bulkhead of a 17-year-old ore/oil carrier for renewal, was investigated in air and in artificial seawater condition. The surface of the plate was covered with corrosion pits and they proved to be crack initiation sites by fractography using SEM. From this research, it was found that the evaluation method for fatigue strength of virgin mild steel plates in air and in artificial seawater can also be applied to the evaluation of the fatigue strength of mild steel plates those were long-term exposed to a corrosive environment and their surfaces had been rusted intensively.