A method for evaluating a semiconductor substrate is provided that can evaluate even a thin semiconductor substrate or a substrate with untreated surfaces, can evaluate a large quantity of semiconductor substrates for solar cells in a short time and can be used as in-line inspection in a production process of solar cells or the like. The method for evaluating a semiconductor substrate comprises a step of immersing a semiconductor substrate in an etching solution filled in a container, a step of irradiating the substrate being immersed in the etching solution with light via the etching solution to cause the substrate to emit photoluminescence, and a step of observing the emitted photoluminescence.