The cracking mechanisms of 316L heat exchanger tubes employed in power station were studied using optical microscope (OM) and scanning electron microscope (SEM). It is demonstrated that the hardness value, microstructure and tensile properties of selected #1 and #2 tube samples all meet the requirements of relevant standards, but the contents of Ni and Mo element of #1 tube are slightly lower than the standard requirements. The circumferential cracks on the two samples nucleate at the corrosion pits on the inner wall of the tubes, while Cl element was detected in the corrosion products of these pits. The cracks propagate from the inner wall to the outer wall along the circumferential direction of the tube, forming a dendritic crack morphology with both transgranular and intergranular propagation characteristics. Combined with the investigation of the service condition of the heat exchanger tubes and the analysis of the experimental results, it can be concluded that the main reason for cracking is the initiation of pin-corrosion when the content of chloride ion exceeds the standard during the service of the tubes, which will induce stress corrosion cracking, causing crack expansion through the wall thickness, and finally lead to leakage of the tube. In addition, from the point of view of materials, Mo is an important element to improve the pitting resistance of materials. The content of Mo element detected in the samples is lower than the standard requirement, which is also one of the reasons for the easy pitting corrosion of the inner wall of the pipe.