This paper discusses a technology of mechanized wet underwater welding of high-alloy corrosion-resistance steel. The main aim of the investigation is development of self-shielded flux-cored wire for wet underwater welding for the first time in the world practice. A mathematical method of experiment design was used for determination of quantity and quality characteristics. Besides, quantitive and qualitative indices of welding-technological characteristics such as weld metal gas saturation, stability of arc burning in water medium, and optimum composition of gas-slag-forming components of flux-cored wire charge were determined. Problems of this branch and current ways of performance of welding – repair operations on objects of high-alloy corrosion-resistance steel were outlined. Application of experimental self-shielded flux-cored wire in mechanized wet underwater welding of high-alloy corrosion-resistance steel allows increasing efficiency and quality of underwater welding-repair operations and receiving economical effect due to reduction of production downtime of object under repair. Usage of present technology provides for the possibility of complete elimination or partial reduction of human participation in welding process under extreme conditions in radioactive environment (in the case of NPP) and in welding at greit depth. The results of researches can be used for welding-repair operations in nuclear power plants, for ship repair and ship-raising operations and on hydraulic structures. Proposed innovation technology allows complete replacement of wet underwater welding using coated electrodes as well as eliminating human participation in welding-repair operations of critical structures under especially dangerous conditions such as underwater welding.