A method for inhibiting galvanic corrosion of marine propulsion components impresses an electronic current into the protected component and causes the protected component to act as a cathode in a galvanic circuit which comprises a conductor, such as a ground wire connected between the protected component and an electrical conductor which is external to the marine vessel on which the protective component is attached. The electrical conductor can be a ground wire of an electrical power cable connected between the marine vessel and the shore ground. The sea bed is caused to act as an anode in the galvanic circuit, with varying voltage potentials existing within the water between the sea bed and the protected component. The system can be a closed loop control circuit using a voltage sensed by an electrode, or an open loop circuit that provides current pulses based on empirical data.