Corrosion significantly degrades the fatigue performance of high‐strength steel wires. This study conducts an extensive review of corrosion fatigue in corroded steel wires based on relevant literature. It outlines corrosion fatigue evolution mechanisms and discusses various test methodologies. Six distinct approaches are employed to assess corrosion fatigue life. A three‐stage multiscale corrosion fatigue evolution process involves pitting formation and growth, short crack propagation, and long crack propagation. Advanced fatigue assessment methods like the theory of critical distances (TCD) and the strain energy density (SED) are explored for predicting the corrosion fatigue life for corroded steel wires. A model utilizes an elastoplastic corrosion fatigue damage framework to comprehensively represent the complex interactions. The physics‐data‐driven method has garnered increasing attention due to its requirement of fewer sample data and good robustness. Moreover, the reliability method underscores its pivotal role in guaranteeing the longevity of suspenders and cables in practical settings.