The bolts for the reactor coolant pump are planned to be made of the forged 316 stainless steel. Prior to use, the stress corrosion cracking (SCC) resistance of the material requires investigation in simulated primary water at 320 °C. The crack growth rates (CGRs) of two duplicate compact tension (CT) specimens are measured using direct current potential drop method. The effects of stress intensity factor (K, changes from 21 to 41 MPa√m), dissolved oxygen (DO, changes from <10 to 2000 ppb) and dissolved hydrogen (DH, 2800 ppb) on CGRs are comprehensively examined. The results indicate that CGR increases with increasing K. The forged 316 stainless steel is sensitive to SCC in oxygenated water. Changing oxygenated water to hydrogenated water leads to more than one order of magnitude decreases of CGR. The fracture surface, crack path, and the influence of the crack branching on CGR are discussed.