The effects of pre-deformation on sensitization of AISI 304 stainless steel were investigated by the double loop electrochemical potentiokinetic reactivation test. The effects of pre-deformation and sensitization on high temperature oxidized film formed in high temperature water were analyzed by a XRD and SEM. The electrochemical impedance spectroscopy at room temperature was used to study corrosion resistance of oxidized film. The point defect density of oxidized film was calculated by Mott–Schottky plots. The results showed that the value of the degree of sensitization first decreased and then slight increased with the increasing of engineering strain. Moreover, low temperature promoted to form sensitization induced “secondary” α′-martensite. The sample with 20% engineering strain had higher impedance value than other samples. The result was supported by further Mott–Schottky experiments. Considering increased α′-martensite with the increasing of strain, the results of the impedance were more consistent with values of the degree of sensitization.