The effect of high pressure torsion processing on mechanical properties and corrosion behavior of pure magnesium and Mg-Zn, Mg-Zn-Ca, Mg-Li-Y and Mg-Y-RE alloys is investigated. Micro-tomography and SEM characterization are used to estimate corrosion rate and evaluate non-uniform corrosion features. The results show that severe plastic deformation processing improves the strength of all magnesium alloys, but deformation localization can take place in the Mg-Zn-Ca and Mg-Y-RE alloys. The occurrence of deformation localization is associated with low strain rate sensitivity in these alloys and with severe corrosion localization. Pure magnesium and Mg-Zn and Mg-Li-Y alloys display good corrosion resistance with a low corrosion rate and maintain integrity after 28 days of immersion in Hank's solution.