ChatGPT is a cutting-edge artificial intelligence language model developed by OpenAI, which has attracted a lot of attention due to its surprisingly strong ability in answering follow-up questions. In this report, we aim to evaluate ChatGPT on the Grammatical Error Correction(GEC) task, and compare it with commercial GEC product (e.g., Grammarly) and state-of-the-art models (e.g., GECToR). By testing on the CoNLL2014 benchmark dataset, we find that ChatGPT performs not as well as those baselines in terms of the automatic evaluation metrics (e.g., $F_{0.5}$ score), particularly on long sentences. We inspect the outputs and find that ChatGPT goes beyond one-by-one corrections. Specifically, it prefers to change the surface expression of certain phrases or sentence structure while maintaining grammatical correctness. Human evaluation quantitatively confirms this and suggests that ChatGPT produces less under-correction or mis-correction issues but more over-corrections. These results demonstrate that ChatGPT is severely under-estimated by the automatic evaluation metrics and could be a promising tool for GEC.