Motivated by the theoretical results of Duffie and Lando (2001), we extend the empirical analysis of Yu (2005) to test the effects of information uncertainty on corporate bond yield spreads. Empirically investigating the data from year 2001 to 2006, we find the uncertain information has significant positive impacts on corporate bond yield spreads after controlling determinant variables stated in literature. That is to say, the investors will penalize for uncertain information by charging a higher risk premium. Additionally, after taking information uncertainty into consideration, it can help traditional structural model to enhance its explanatory power for bonds with very short maturity. Our results also suggest that non-accounting based information uncertainty is also an important determinant for bond spreads even after considering the information contained in credit ratings.