High corrosion resistant organic coatings are widely used for various industrial applications. These coatings normally have service life as long as tens of years. It is of great scientific interest and engineering significance to rapidly evaluate and compare the corrosion resistance of different long-life organic coatings. Different from the negative DC voltage used in the published AC/DC/AC (alternating current/direct current/alternating current) cyclic method to cathodically polarize an organic coating system before AC electrochemical impedance spectrum (EIS) in each cycle, a positive voltage was employed in this paper for the DC polarization in the AC/DC/AC cycling. The modified AC/DC/AC technique proved to be able to accelerate the damage of an alkyd varnish coating on carbon steel and thus quickly evaluate the coating corrosion resistance. Based on the measured impedance spectra and the recorded surface morphologic changes, the acceleration processes involved in the coating corrosion damage were analyzed, and a physical model for the accelerated failure of the coating/metal system was proposed. Based on the experiment results of electrochemical impedance spectroscopy and corrosion morphology from the immersion test, AC/cathodic DC/AC cyclic accelerated test, and AC/anodic DC/AC cyclic accelerated test, it shows that the evaluation method with the combination of cathodic and anodic polarization will be one of the effective and reasonable methods to evaluate the performance of organic coatings.