This literature review summarizes the results of 100 years of corrosion studies, citing information from almost 300 peer‐reviewed articles to provide the water industry with an updated understanding of factors that influence the complex process of iron pipe corrosion. These factors include water quality and composition, disinfectant residuals, pipe age, scale formation, temperature, flow conditions, biological activity, and corrosion inhibitors. The authors review the reported role of these factors and highlight discrepancies in the literature. The article also discusses corrosion indexes that are intended to help control corrosion. In particular, it reiterates conclusions of prior studies regarding the Langelier index. Although this index continues to be widely used, it does not provide an effective means of controlling iron corrosion. Finally, a review of potential implications of existing and upcoming regulations, including the Lead and Copper Rule, the Disinfectants/Disinfection Byproducts Rule, and the Enhanced Surface Water Treatment Rule, for iron corrosion is also presented.