It is shown that a one-to-one correspondence exists between the resistance to carburization and resistance to oxidation of selected Cr2O3- and Al2O3-forming alloys as determined from carburization and oxidation tests. Although the Cr2O3-forming alloys are unable to maintain protective scales in an environment characterized by low oxygen potential and high carbon activity, the kinetics of carburization are found to be functions of the exact chemical composition. Ingress of carbon can lead to precipitation of carbides, particularly those based upon the Cr7C3 and Cr23C6 compositions with the latter enhancing the precipitation of CrFe sigma phase. In contrast, an Al2O3-forming alloy with balanced Ni, Cr and Al contents is found to have superior resistance to carburization due to: (i) formation of highly protective Y-modified oxide, and (ii) higher solubility of C. It is concluded that Al2O3-forming alloys can have a great deal of potential in applications requiring high resistance to carburization.