The present research work focuses on the effects of heat treatment on corrosion behavior of sintered plain carbon steel (Fe-0.5%C). Investigation on corrosion mechanism has been carried out on three different heat-treated (annealing, normalizing, and hardening) powder metallurgy plain carbon steel specimens. Aqueous immersion and electrochemical pickling corrosion tests were conducted on the heat-treated specimens. It has been found that the heat treatments have enhanced the percentage of theoretical density as well as the hardness of the specimen compared with the as-sintered specimen. The corrosion resistance of the oil-quenched specimen was found to be higher than that of the other heat-treated specimens. Larger grains are observed in the case of as-sintered and annealed specimens, and more iron carbides are observed in the normalized and oil-quenched specimens. Intergranular and pitting types of corrosion have been observed in the scanning electron microscopy images of corroded specimens.