Alkali-activated slag concrete (ASC) is regarded as one of the most promising sustainable construction materials for replacing ordinary Portland cement concrete (OPC) due to its comparable strength and outstanding durability in challenging environments. In this study, the corrosion of steel bars embedded in ASC and OPC was studied by means of an electrically accelerated corrosion test of steel bars in concrete. Meanwhile, the bond performance of the corroded steel bars embedded in ASC was tested and compared with corresponding OPC groups. The results showed that ASC and OPC behaved differently in terms of bond deterioration. The high chemical resistance of ASC decreased the corrosion of steel bars and, thus, increased the residue bond strength and the bond stiffness.