Abstract: The current study aims to examine the effect of ethical culture to corporate reputation. This research focused on ethical culture, corporate capabilities and corporate reputation of banks in Thailand. The main investigation were to examine: the effect of ethical culture to corporate capabilities, the effect of corporate capability to corporate reputation and the effect of ethical culture through corporate capabilities to corporate reputation. The samples were 385 managers of banks in Thailand by systematic random sampling. The questionnaires were distributed and explained to the respondents by researcher for better understanding to respond. The structural equation model was used to analyze data. The findings reveal that ethical culture has direct effect to capabilities and reputation of an organization. The corporate capability has direct effect to corporate reputation. Moreover, ethical culture affects to corporate reputation both directly and indirectly through corporate capabilities. As a result, it is necessary for sustainable business to build an ethical culture and capabilities integrated through whole part of an organization.