The corrosion resistance of two-phase (fcc-hcp) Co-27Cr-5Mo-0.05C alloys produced by isothermal aging at 800 °C was studied using potentiostatic polarization tests in Ringer’s solution. Critical pitting potentials were estimated from the potentiostatic polarization curves and were found superior to that exhibited by the conventional ASTM-F75 cast alloy used for the manufacture of orthopedic implants. Formation of suitable distributions of hcp embryos (incoherent twin boundaries and stacking faults) prior to and during the early stages of aging required for isothermal fcc-hcp transformation led to a relative reduction of the corrosion resistance of two-phase alloys. However, once the transformation proceeded rapidly, between 4 and 8 hours of aging, the elimination of lattice defects caused a reduction of the dissolution rates and the breakdown potential became nearly independent of the relative amounts of fcc and hcp phases present in the microstructure. This behavior was due to the uniform chemical composition of the two-phase alloys. Concurrent work has shown that the hardness and yield strength of a 50 pct hcp alloy are increased by at least 30 pct without undue ductility losses. Therefore, the results of the present article suggest that these materials are excellent candidates for the manufacture of orthopedic implant devices requiring higher strength than provided by conventional ASTM-F75 materials.