To realize the efficient data capture and accurate analysis of pitting corrosion of the reinforced concrete (RC) structures, we first design and implement a wireless sensor and network (WSN) to monitor the pitting corrosion of RC panels, and then, we propose a wavelet-based algorithm to analyze the corrosion state with the corrosion data collected by the wireless platform. We design a novel pitting corrosion-detecting mote and a communication protocol such that the monitoring platform can sample the electrochemical emission signals of corrosion process with a configured period, and send these signals to a central computer for the analysis. The proposed algorithm, based on the wavelet domain analysis, returns the energy distribution of the electrochemical emission data, from which close observation and understanding can be further achieved. We also conducted test-bed experiments based on RC panels. The results verify the feasibility and efficiency of the proposed WSN system and algorithms.