In this work, failure prediction of corroded pipelines under combined loads of internal pressure and axial compressive force is investigated through the Finite Element Method. The study was carried out using the PIPEFLAW program, which was specially developed to automatically generate and analyze corroded pipelines models. Two configurations of idealized defects in pipeline were investigated: with two and three rectangular defects. This work was divided into two stages where, on the first stage, the analysis is performed considering only internal pressure. On the second stage, combined loads are simulated considering internal pressure and axial compressive forces. Results show that failure pressure values decrease with the increase in the axial compressive force, for both Finite Elements models analyzed.