This review provides a comprehensive overview of the current state of research on magnesium (Mg) alloy corrosion, highlighting recent advancements and addressing key challenges. Mg alloys, being the lightest structural metallic materials, have significant potential for reducing energy consumption and weight in engineered systems. However, their widespread use is limited by inherent limitations such as corrosion vulnerability, poor formability, and low creep resistance. The review covers contemporary methods for understanding Mg corrosion, including electrochemical techniques, non-electrochemical techniques, and analytical tools. It discusses the electrochemical framework for Mg corrosion, the effects of alloying, and efforts to develop corrosion-resistant Mg alloys. The review also delves into atmospheric corrosion, biodegradable Mg alloys, and protection strategies against atmospheric corrosion. Finally, it identifies knowledge gaps and future research directions, emphasizing the need for further development in corrosion resistance and the broader application of Mg alloys.This review provides a comprehensive overview of the current state of research on magnesium (Mg) alloy corrosion, highlighting recent advancements and addressing key challenges. Mg alloys, being the lightest structural metallic materials, have significant potential for reducing energy consumption and weight in engineered systems. However, their widespread use is limited by inherent limitations such as corrosion vulnerability, poor formability, and low creep resistance. The review covers contemporary methods for understanding Mg corrosion, including electrochemical techniques, non-electrochemical techniques, and analytical tools. It discusses the electrochemical framework for Mg corrosion, the effects of alloying, and efforts to develop corrosion-resistant Mg alloys. The review also delves into atmospheric corrosion, biodegradable Mg alloys, and protection strategies against atmospheric corrosion. Finally, it identifies knowledge gaps and future research directions, emphasizing the need for further development in corrosion resistance and the broader application of Mg alloys.