An electronic timepiece equipped with a battery life warning system, in which an output voltage of a battery are detected under a heavy load condition and a light load condition. In a first preferred embodiment, a time indicating means effects a display of time in a first predetermined more to provide an initial warning of the battery life when the output voltage drops below a first predetermined level during the heavy load condition and also effects of the display of time in a second predetermined mode to provide a second warning of the battery life when the output voltage of the battery drops below a second predetermined level lower than the first predetermined level. In a second preferred embodiment, when the output voltage of the battery drops below the first predetermined level, a drive signal for driving the time indicating means is produced so as to drive the time indicating means with a sufficient driving energy substantially equal to that of a drive signal being produced when there is no voltage drop in the battery. When the output voltage of the battery drops below the second predetermined level, a control signal is applied to the time indicating means, which is consequently rendered to display the time information in a modulated form for thereby providing a warning of the battery life.