We search for CP violation in the decay $D^+rightarrow K^0_S K^+$ using a data sample with an integrated luminosity of 977 fb$^{-1}$ collected with the Belle detector at the KEKB $e^+e^-$ asymmetric-energy collider. No CP violation has been observed and the CP asymmetry in $D^+rightarrow K^0_S K^+$ decay is measured to be $(-0.25pm0.28pm0.14)%$, which is the most sensitive measurement to date. After subtracting CP violation due to $K^0-bar{K}^0$ mixing, the CP asymmetry in $D^+rightarrowbar{K}^0 K^+$ decay is found to be $(+0.08pm0.28pm0.14)%$.