In this work, the corrosion inhibition performance and mechanism of oxalyl dihydrazide (ODH) for mild steel in neutral saline solution are in-depth studied using weight-loss and electrochemical tests, surface characterizations, theoretical calculation and computational simulations. Results indicate that ODH can act as a novel and superior mixed-type corrosion inhibitor for mild steel in neutral saline solution, its corrosion inhibition efficiency increases with the rising ODH concentration, and the optimum value reaches 88.7 % with adding 200 mg/L. Its corrosion inhibition ability becomes better with immersion time. A compact corrosion product film mainly consisting of Fe, O, N and Cl elements formed on metal surface after adding ODH. ODH molecules adsorb on metal surface in an orderly fashion to form a hydrophobic film, which is belonging to the physicochemical adsorption and obeys the Langmuir adsorption isotherm model. The corrosion inhibition process of ODH molecule on mild steel is the endothermic process, which enlarges the activation energy barrier of corrosion reactions. ODH molecule can expel the adsorbed water molecules on metal surface and form copolymers with increasing of ODH concentration, retarding the diffusion of water molecule thus protecting metal from corrosion. ODH is proved to be an effective organic corrosion inhibitor for protecting mild steel in neutral saline solution, and contributes toward research and application of easily accessible sources for organic corrosion inhibitors.