Different thermomechanical treatments were applied to a high strength low carbon steel with a novel chemical composition. As a result, three different microstructures were produced with dissimilar mechanical and corrosion properties. Subsequently, a tempering heat treatment was applied to redistribute the phases in the steel. Microstructure A with 56 pct martensite and 32 pct bainite presented high strength but medium ductility; microstructure C with 95 pct ferrite and 3 pct martensite/austenite resulted in low strength and high ductility, and finally microstructure B with 98 pct bainite and 2 pct martensite/austenite resulted in high strength and ductility. Alternatively the corrosion behavior obtained by polarization curves was characterized in 0.1 M H2SO4, 3 M H2SO4, 3.5 wt pct NaCl, and NS4 solutions resulting in similar magnitudes, while the corrosion behavior acquired by electrochemical impedance spectroscopy had slightly differences in 3 M H2SO4.