This report describes an analytical method of transforming the prompt decay constants at into the static reactivity p,. It has heen developed through the use of the time-dependent, two-group diffusion theory ignoring delayed neutrons under several assumptions. A generalized characteristic equation which relates the prompt decay constants to the effective multiplication constant can in general he derived by expanding the static fluxes into kinetic fluxes containing the fundamental and higher modes, and several approximated formulas for this equation have been obtained with the application of certain conditions. In particular, a formula that takes into account the change in the generation time -p 42 =(f3errfa,){a,- (G.,/G.,,)a}-is proposed as a most useful method for reactivity measurement. Error evaluation has been performed in regard to several approximate formulas, and some problems involved in numerical calculation have been examined.