Organic corrosion inhibitors are one of the five ways, besides material selection, design, cathodic protection and coatings, to protect materials against corrosion. Corrosion is an ubiquitous phenomena that deteriorates all materials, metals, plastics, glass and concrete. The costs of corrosion are tremendous and amounts to 4.0% of gross domestic product (GDP) in USA. The similar losses of GDP are noted in all countries around the world. At this point of time, there is no way to completely stop the corrosion processes. Some new solutions can only slow this process. Organic corrosion inhibitors are widely used in industry because of their effectiveness at wide range of temperatures, compatibility with protected materials, good solubility in water, low costs and relatively low toxicity. Organic corrosion inhibitors adsorb on the surface to form protective film which displace water and protect it against deteriorating. Effective organic corrosion inhibitors contain nitrogen, oxygen, sulfur and phosphorus with lone electron pairs as well can contain structural moieties with π-electrons that interact with metal favoring the adsorption process. This review presents mechanisms and monitoring of corrosion, laboratory methods for corrosion study, relationship between structure and efficacy of corrosion inhibitions, theoretical approach to design new inhibitors and some aspects of biocorrosion.