This work investigates the oxidation of austenitic stainless steel 316 at temperatures close to the critical point of water: subcritical water at 330°C and 27 MPa, the transition between subcritical and supercritical water at 374°C and 27 MPa, and supercritical water (SCW) at 380°C and 27 MPa. The surfaces of the samples were characterized using x-ray diffraction, Raman spectroscopy, scanning electron microscopy, and x-ray photoelectron spectroscopy before and after exposure. Magnetite (Fe3O4) was found to be present on all surfaces of all samples. The samples exposed to subcritical water also showed the presence of a nickel-iron chromium mixed spinel Ni(Fe2-xCrx)O4. The oxide morphology was observed to vary based on exposure temperature; an increased nucleation and growth rate, and an increased generation of Fe2+ was observed on samples exposed to the transition region and SCW.