Steel structures are prone to corrosion, a chemical reaction between steel and the atmosphere that gradually weakens the material. Over time, this reaction can significantly reduce the structural integrity and lifespan of steel elements. Without intervention, corrosion can cause structures to fail, leading to financial, environmental, and potential human losses. Enhancing steel’s corrosion resistance is crucial, and one method involves adding niobium (Nb). Niobium microalloyed steels are known for their increased strength, and some research indicates that Nb may also improve corrosion resistance by making the grain structure of the steel finer. However, the complete potential of Nb in corrosion prevention remains underexplored, with significant research gaps across various scales, from microstructural impacts on durability to macroscopic effects on mechanical properties. The research community has utilized numerous experimental approaches to test corrosion resistance under different conditions, but there is a lack of comprehensive studies that aggregate and analyze these findings. This paper seeks to fill that void by reviewing the impact of Nb on the strength and corrosion resistance of structural steels, examining how steel beams’ ultimate capacity degrades over time and identifying key areas where further research is needed to understand Nb’s role in mitigating corrosion.