In this study, the cavitation erosion behavior of 316L stainless steel under different cavitation intensities in 3.5 wt.% NaCl solution was investigated with scanning electron microscopy and various electrochemical tests. Results indicated that cavitation intensity corresponding to CE amplitude of 5 μm was lower than that of the mechanical bearing capacity of passive films. When subjected to cavitation erosion (CE), Open circuit potential (OCP) shifted to the noble direction instantaneously, which was mainly attributed to enhanced oxygen transfer of the cathode due to stirring effects of CE. By contrast, high cavitation intensities corresponding to CE amplitudes of 25 μm and 55 μm exceeded the mechanical bearing capacity of passive films, causing significantly reduced OCP associated with metal dissolution of the anode from mechanical damage. Potentiostatic polarization and Mott–Schottky tests showed that 316L SS subjected to low cavitation intensities displayed good repassivation properties. However, repassivation performance was markedly weakened when high cavitation intensity was applied, resulting in weaker protection of the passive films with high carrier density.