Corrosion product films (CPFs) have significant effects on hydrogen permeation and the corrosion process at the crack tip. This paper established a two-dimensional calculation model to simulate the formation of CPFs at the crack tip and its effects on the crack tip stress status and hydrogen diffusion. The CPFs were simplified as a single-layer structure composed of Fe2O3, the effective CPFs boundary was modeled by the diffusion of oxygen, and the CPF-induced stress was modeled by hygroscopic expansion. The simulation was conducted with two stages; the first stage was to simulate the formation of CPFs formation and its effects on the crack tip stress status, while the second stage focused on the hydrogen diffusion with and without CPF formation under different external tensile loads. The results indicate that the highest compressive stress induced by the formation of CPFs is located at 50~60° of the crack contour and dramatically weakens the crack tip tensile stress at low-stress status. The CPFs can inhibit the hydrogen permeation into the crack tip, and the hydrostatic pressure effects on the redistribution of the permeated hydrogen are significant under larger external load conditions.