: A comparative study of the corrosive resistance and dross formation of 55Al–Zn–1.6Si (wt%) (55AZS) and 23Al–Zn–0.3Si–xMg (wt%) (23AZS–xMg, x = 0, 1.5, 3) alloys are performed using immersion corrosion and dross formation test, respectively. The result of immersion corrosion testing shows that corrosive rate of the 23AZS alloy is lower than that of 55AZS alloy in the latter stage of immersion and 23AZS–1.5Mg alloy shows the optimal corrosive resistance compared to other alloys relatively. The result of dross formation test shows that the number of bottom dross particle formed in 23AZS–xMg (x = 0, 1.5, 3) alloy is less than that in 55AZS alloy. Moreover, the thermodynamic calculation is performed to reveal the solubility of Fe in the alloys, the result shows the solubility of Fe reduces as a decrease of Al content in the alloy, and the number of dross particle (Fe4Al13 and 6 (Al9Fe2Si2) phase) generated in 23AZS alloy is more than that in 55AZS alloy. In general, 23AZS–1.5Mg alloy has an advantage of less dross and a certain corrosion resistance and it is expected to be applied for the hot stamping process of coating.