The Polarization and Depolarization Current (PDC) measurement is an efficient and effective diagnostic technique based on time domain measurement, for evaluating the high voltage insulation condition. This paper presents a review and comparison results from several published papers on the application of the PDC method to finding the conductivity and moisture content of various types of insulators. For solid insulation, the study was focused on cable insulation, electric machine stator insulation, and paper insulator in transformer insulation with different conditions. For liquid insulation, the review and comparison was done on biodegradable and mineral transformer oils, with fresh oil condition, and aged condition. The results from previous researchers tests were complied, analyzed and discussed, to evaluate the application of the PDC method to monitor the conductivity and moisture of HV equipment insulation systems. From the review results, the PDC technique successfully gives an indication of the conductivity and moisture level of high voltage insulation.