Lamb wave inspection is a promising candidate for real-time monitoring of hidden corrosion in thin-walled metallic structures. The time-of-flight (ToF) which represents the variation of group velocity due to thickness reduction is commonly used, but its sensitivity is limited at the early stage of corrosion. To address this issue, the phase shift as a function of the phase velocity is defined and evaluated for corrosion detection in this paper. Specifically, the analytic cross-correlation method is applied, which estimates the group delay and the phase shift between two Lamb wave responses before and after the existence of corrosion simultaneously. The simulated examples show that the phase shift performs an obvious improvement on corrosion sensitivity compared to the ToF, and its value increases nearly linearly as the corrosion gets deeper. Ultimately, an experimental example is also introduced, where an active sensor network is deployed and a probabilistic imaging algorithm is introduced. The imaging results demonstrate that the proposed method could successfully identify and accurately localize the hidden corrosion.