Various concepts developed in the framework of wavelet transforms have been adapted to the analysis of electrochemical noise measurements (ENM). Wavelet transforms are proposed as an alternative tool to overcome the limitations of FFT in the analysis of ENM data. In this context, the theoretical basis of wavelet analysis is briefly reviewed. Then, both methods are applied to the study of various different corrosion systems covering a wide range of ENM signals. The results reported here demonstrate, firstly, that wavelet analysis is applicable to those systems in which FFT techniques also work. Moreover, in cases where FFT fails, wavelet analysis provides valuable knowledge about the behaviour of the system. Using wavelets, the different ENM components contributing to the original signal can be characterised. Each component is defined by a set of wavelet coefficients, which contain information about the time scale characteristic of the associated corrosion event.