Hash-based message authentication code (HMAC) is widely used in authentication and message integrity. As a Chinese hash algorithm, the SM3 algorithm is gradually winning domestic market value in China. The side channel security of HMAC based on SM3 (HMAC-SM3) is still to be evaluated, especially in hardware implementa-tion, where only intermediate values stored in registers have apparent Hamming distance leakage. In addition, the algorithm structure of SM3 determines the difficulty in HMAC-SM3 side channel analysis. In this paper, a skillful bit-wise chosen-plaintext correlation power attack procedure is proposed for HMAC-SM3 hardware implementation. Real attack experiments on a field programmable gate array (FPGA) board have been performed. Experimental results show that we can recover the key from the hypothesis space of 2256 based on the proposed procedure.