Title: Thermal effects on current-driven magnetization dynamics Abstract: One of the most interesting problems on the current-driven magnetization dynamics is to understand the thermal effect. The spin transfer torque effectively makes the originally dissipative magnetic system to a new system that the magnetic energy can be accumulated, over-damped, or dissipationless during the magnetization dynamics. Thus the well-established transition rate theory that is built on the near equilibrium Boltzmann distribution in a damped environment is no more applicable. Here we propose a generalized Fokker-Planck equation in the presence of the spin torque. In the cases where the magnetic field and the current density are small, we find one can recover the transition rate theory by simply replacing the temperature by an effective one. When the magnetic field is larger than the anisotropic field and/or the current density is larger than a critical value, there is no energy barrier associated with each stable solution. In these cases, the thermal fluctuation between a stable precessional state and a stable static state involves a concept of ``negative temperature''. We determine the thermal decaying time of the stable precessional states by proposing a novel relaxation formulation.