Corrugated damage to bearings is a common fault in electrical facilities such as new energy vehicles, wind power, and high-speed railways. The aim of this article is to reveal the microscopic characteristics and formation mechanism of such damages. The corrugation with alternating “light” and “dark” shape was produced on GCr15 bearing races in the experimental conditions. Compared to the light area, the dark area (in the images generated by optical microscope) has more severe electrical erosion, lower hardness, more concave morphology, and lower oxidation. As the voltage increases, the width of the corrugation, the height difference between corrugation, and surface roughness all increase. It is believed that the formation of corrugated damage requires a sufficiently high voltage to induce the periodic destruction and reconstruction of the lubrication film. When the bearing is in a metal-lubrication film–metal contact state, the high voltage causes the lubrication film to break down and induce electrical erosion. Then, the contact area is in metal–metal contact, and the surface is mainly damaged by mechanical rolling. After the reconstruction of lubrication film, the next round of electrical erosion begins. The results are helpful for a deeper understanding of the mechanism of bearing erosion in electrical application. Abstract Corrugated damage to bearings is a common fault in electrical facilities such as new energy vehicles, wind power, and high-speed railways. The aim of this article is to reveal the microscopic characteristics and formation mechanism of such damages. The corrugation with alternating “light” and “dark” shape was produced on GCr15 bearing races in the experimental conditions. Compared to the light area, the dark area (in the images generated by optical microscope) has more severe electrical erosion, lower hardness, more concave morphology, and lower oxidation. As the voltage increases, the width of the corrugation, the height difference between corrugation, and surface roughness all increase. It is believed that the formation of corrugated damage requires a sufficiently high voltage to induce the periodic destruction and reconstruction of the lubrication film. When the bearing is in a metal-lubrication film–metal contact state, the high voltage causes the lubrication film to break down and induce electrical erosion. Then, the contact area is in metal–metal contact, and the surface is mainly damaged by mechanical rolling. After the reconstruction of lubrication film, the next round of electrical erosion begins. The results are helpful for a deeper understanding of the mechanism of bearing erosion in electrical application. Keywords: corrugated damage; equivalent resistance; electrical erosion; lubrication leakage; hardness