The CoRoT satellite is expected to discover tens of new transiting exoplanets during its mission . For each of these planets there will be a resulting long , continuous sequence of transit times that can be used to search for perturbations arising from an additional planet in the system . I report the results from a study of the transit times for CoRoT-1b , which was one of the first planets discovered by CoRoT . Analysis of the pipeline reduced CoRoT light curve yields a new determination of the physical and orbital parameters of planet and star , along with 35 individual transit times at a typical precision of 36 s. I estimate a planet-to-star radii ratio of R _ { p } / R _ { \star } = 0.1433 \pm 0.0010 , a ratio of the planet ’ s orbital semimajor axis to the host star radius of a / R _ { \star } = 4.751 \pm 0.045 , and an orbital inclination for the planet of i = 83.88 \degr \pm 0.29 \degr . The observed transit times are consistent with CoRoT-1b having a constant period and there is no evidence of an additional planet in the system . I use the observed constancy of the transit times to set limits on the mass of a hypothetical additional planet in a nearby , stable orbit . I ascertain that the most stringent limits ( 4 M _ { \oplus } at 3 \sigma confidence ) can be placed on planets residing in a 1:2 mean motion resonance with the transiting planet . In contrast , the data yield less stringent limits on planets near a 1:3 mean motion resonance ( 5 M _ { Jup } at 3 \sigma confidence ) than in the surrounding parameter space . In addition , I use a simulation to investigate what sensitivity to additional planets could be obtained from the analysis of data measured for a similar system during a CoRoT long run ( 100 sequential transit times ) . I find that for such a scenario , planets with masses greater than twice that of Mars ( 0.2 M _ { \oplus } ) in the 1:2 mean motion resonance would cause high-significance transit time deviations . Therefore , such planets could be detected or ruled out using CoRoT long run data . I conclude that CoRoT data will indeed be very useful for searching for planets with the transit timing method .