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 LiCoO2 was chosen as alternative cathode material. LiCoO2 powder was synthesized by high temperature calcination method and by citrate sol-gel method. And its structure and physical characteristics were analyzed by XRD, IR TGA and porosimeter. The conductivity and solubility of LiCoO2 electrode were also measured Homogeneous LiCoO2 powder was obtained by citrate sol-gel method at 445℃, however, obtained above 750℃ by high temperature calcination method. Homogeneous particle size distribution and fine powder were obtained by the citrate sol-gel method. LiCoO2 electrode showed higher electric conductivity (1.7 Ω^-1 ㎝^1) than NiO (0.1 Ω^-1 ㎝^-1) at 650℃. The solubilities of LiCoO2 electrode in electrolyte were varies 0.6 to 1.0 ppm during 200 hours. So, the solubilities of LiCoO2 were much lower than that of NiO.