An attempt was made to evaluate creep reliability of two commercial Ni-based superalloys by using ultrasonic wave. The materials include fine-grained PM alloy fabricated by mechanical alloying and subsequent hot isostatic pressing, and IN738LC cast alloy with a grain size of a few cm. Microstructural parameters (fraction of creep cavity and size of precipitates) and ultrasonic parameters (velocity, attenuation) were measured to try to find relationships between them. Ultrasonic velocity decreased with creep cavity formation in PM alloy. On the other hand, no distinct changing trend of ultrasonic velocity was observed for IN738LC alloy. Ultrasonic attenuation was found to have a linear correlation with the size of precipitates and was suggested as a potential parameter for monitoring creep reliability of IN738LC alloy.