Applicability of the first-order perturbation (FOP) theory method to reactivity estimation for source-driven systems is examined in this paper. First, the formally exact point kinetics equations have been derived from the space-dependent kinetics equations and the kinetics parameters including the dynamic reactivity have been defined. For the dynamic reactivity, exact and first-order perturbation theory expressions for the reactivity change have been formulated for source-driven systems. It has been also shown that the external source perturbation itself does not change the reactivity if the initial lambda-mode adjoint flux is used as the weight function. Using two source-driven benchmark problems, the reactivity change has been estimated with the FOP theory method for various perturbations. By comparing the resulting reactivity changes with the exact dynamic reactivity changes determined from the space-dependent kinetics solutions, it has been shown that the accuracy of the FOP theory method for the accelerator-driven system (ADS) is reasonably good and comparable to that for the critical reactors. The adiabatic assumption has also been shown to be a good approximation for the ADS kinetics analyses.