The Yellow Sea Warm Current (YSWC) is one of the principal currents in the Yellow Sea in winter. Former examinations on current activity in the Yellow Sea have not observed a stable YSWC because of the positioning of current meters. To further understand the YSWC, a research cruise in the southern Yellow Sea was carried out in the winter of 2006/2007. Five moorings with bottom-mounted acoustic Doppler current profilers (ADCP) were deployed on the western side of the central trough of the Yellow Sea. The existence and distributional features of the YSWC were studied by analyzing three ADCP moorings in the path of the YSWC in conjunction with conductivity-temperature-depth (CTD) data over the observed area in the southern Yellow Sea. The results show the following. (1) The upper layer of the YSWC is strongly influenced by winter cold surge; its direction and speed often vary along a south-north axis when strong cold surges arrive from the north. (2) The YSWC near the bottom layer is a stable northwest flowing current with a speed of 4 to 10 cm/s. By combining the analyses of the CTD data, we speculate that the core of the YSWC may lie near the bottom. (3) On a monthly average timescale, the YSWC is stably oriented with northward flow from the sea surface to the sea floor.