The cavitation damage resistance of stainless steel is investigated using a newly constructed rotating disk apparatus at a relatively high peripheral speed of 65.4 m/s-77.6 m/s, and employing the test specimens with a through-hole to induce cavitation and a range to be eroded in a body. The main results obtained from the measurement of eroded loss weight and the observation of cavitation, are that the velocity exponent which indicates the damage due to cavitation has a tendency to increase with an increase in the peripheral speed, and that the velocity exponent obtained at the constant static pressure shows a larger value than those obtained at a constant cavitation number.