Metal–metal oxide (MMO), graphite and laboratory-made Ag/AgCl electrodes were electrochemically characterized to be used as reference electrodes embedded in concrete structures. Electrodes were studied in both, aqueous solutions of pH ranging from 7 to 13.5 and embedded into cement mortars; and the electrochemical studies were carried out in the absence and presence of chloride ions. Potential evolution, polarization behaviour, galvanostatic pulse response and impedance characteristics of the electrodes were carried out in aqueous solutions. Besides, the electrochemical stability of the electrodes embedded in mortar was studied for an exposure period of 2 years. It was found that the MMO pseudo-reference electrode is pH-sensitive, the graphite pseudo-reference electrode is oxygen sensitive and the Ag/AgCl pseudo-reference electrode is chloride sensitive. In spite of the fact that any of them can be used to determine the corrosion rates of rebars because they do not depend on the absolute potential and/or the long-term stability of the reference electrode when using traditional electrochemical techniques, long-term drifts in the electrode potentials may lead to misinterpretations of the rebar state. In this context graphite electrodes are recommended because they provide conservative results regarding the active/passive state of the rebars.