The present study deals with the investigation of microbially influenced corrosion of mild steel by the iron-oxidizing bacterium (IOB), Pseudomonas sp. strain DASEWM2, using electrochemical tests, immersion tests, and surface analysis. The corrosion rate obtained by Tafel plots was higher after exposure of ~ 24 h to 72 h when the concentration of sessile cells and constituents of extracellular polymeric substances were high. In inoculated media, cyclic polarization curves show lower pitting potential, repassivation potential, and large area under the hysteresis loop, indicating higher susceptibility of steel to localized corrosion. Immersion tests show higher corrosion rate (0.252 ± 0.05 mpy) and large deep pits in the open area (maximum pit depth 140 ± 8 µm) and under crevice (maximum pit depth 95 ± 4 µm) indicating a higher degree of corrosion in inoculated media. Corrosion products formed on corroded steel samples were analyzed using EDAX, XRD, and FTIR techniques. Goethite and lepidocrocite are the main corrosion products in the case of inoculated media. In contrast, lepidocrocite and iron hydrogen phosphate are the main corrosion products in the case of control media. The absence of iron hydrogen phosphate, a protective type of corrosion product, on steel exposed to inoculated media may be responsible for observing a higher degree of corrosion due to bacteria.