In this study, the corrosion behavior of X52 pipeline steel affected by H2O content in supercritical CO2 streams containing O2, H2S, SO2 and NO2 impurities was investigated by the weight loss test and surface characterization. The corrosion differences of the steel in impure supercritical CO2 streams containing different H2O contents were analyzed. The influence of the variation of H2O content on the corrosion mechanism of steel in the complex impurity-containing supercritical CO2 streams was discussed. The results show that the H2O content limit is 100 ppmv in supercritical CO2 streams containing 200 ppmv O2, 200 ppmv H2S, 200 ppmv SO2 and 200 ppmv NO2 at 10 MPa and 50 °C. The impurities and their interactions significantly promote the formation of corrosive aqueous phase, thereby exacerbating the corrosion of X52 steel. The corrosion process of X52 steel in the environment with a low H2O content is controlled by the products of impurity reactions, whereas the impurities and the products of impurity reactions jointly control the corrosion process of the steel in the environment with a high H2O content.