An Ag/AgCl electrode used as a corrosion sensor in a reinforced concrete structure is considered as having good application prospect. However, its performance under complex conditions, such as dry-wet cycle condition, is not affirmed. In the current study, the performance of Ag/AgCl as chloride selective electrode in mortar exposed to dry-wet cycle condition was investigated. A simple Ag/AgCl electrode was prepared and fabricated by electrochemical anodization. These Ag/AgCl electrodes were embedded into a mortar specimen with temperature sensors, humidity sensors and anode ladder monitoring system (ALS). After 28 d curing time, the upper surface of mortar specimen was wetted (with 5% NaCl solution) and dried regularly. The obtained results indicate that Ag/AgCl electrode responds to the ingress of chloride ion, sensitively. The chloride ion concentration variation can be reflected by the potential trend. Furthermore, the balance potential of Ag/AgCl electrodes is influenced by dry-wet cycles. Compared with ALS, it demonstrates that Ag/AgCl electrodes are more sensitive to chloride. The research provides the key element for the specific application of Ag/AgCl electrode for corrosion monitoring in the future.