Corrosion of steel rebars and susceptibility of reinforcement steel to chloride ion attacks are the two major problems for the construction industries and thereby a huge amount of money is spent to repair it. Epoxy coating on the steel rebars can be one cost-effective solution to alleviate the detrimental effects of corrosion in concrete structures. In the present research, plain and epoxy coated rebar (ECR) samples were chosen to study the correlation between microstructure, hardness and corrosion performance. The microstructures of the investigated thermomechanically treated (TMT) rebars primarily reveal tempered martensitic rings at the outer surface followed by a narrow bainitic transition zone in between along with a ferrite-pearlite microstructure at the inner core. The corrosion resistance of plain and epoxy-coated rebars in naturally aerated 3.5% NaCl and 1% HCl solutions were studied using gravimetric test, open circuit potential (OCP) test, and linear polarization monitoring techniques. It has been witnessed that the corrosion current (icorr) has been shifted towards lower values and polarization resistance (Rp) values are higher for ECR samples which is a clear indication of higher corrosion resistance of the ECRs than the plain rebars. Energy dispersive spectroscopy (EDS) analysis reveals the presence of iron hydroxides and iron oxides. However, X-Ray diffraction (XRD) analysis indicates the existence of various types of oxides, hydroxides, and oxy-hydroxides like iron chloride hydroxide [Fe2(OH)3Cl], goethite (α-FeO(OH)), lepidocrocite (γ-FeO(OH)), magnetite (Fe3O4) and bernalite [Fe(OH)3(H2O)0.25] in the epoxy coated rebar samples whereas, plain rebars indicate the presence of goethite (α-FeO(OH)), maghemite (γ-Fe2O3), magnetite (Fe3O4), hydrogoethite (Fe2O3.H2O), lepidocrocite (γ-FeO(OH)) and iron oxide (Fe21.34O32). All the experimental results confirm that ECR samples are more corrosion resistant under both acidic and saline environments.