The degradation of structural materials caused by the corrosion of liquid leadbismuth eutectic (LBE), the coolant of lead-cooled fast reactors (LFRs), has become one of the limiting factors for the development of LFRs. In this study, LFR structural candidates SIMP and T91 ferritic/martensitic steels and 316L austenitic stainless steel were selected to conduct corrosion experiments at different durations (120-1218 h) in oxygen-saturated liquid LBE at 550°C. It was found that the austenitic stainless steel 316L has the best resistance to LBE corrosion due to its high Cr content, which allows dense Fe-Cr spinel with high Cr content to be generated in oxygen-containing LBE, slowing down the oxidation rate. However, a certain degree of dissolution corrosion occurred in the early stages of corrosion in 316L steel, which disappeared with the increase of time. The ferritic/martensitic steel SIMP has better oxidation resistance than T91 due to its higher Si content, which results in a more compact inner oxide layer of SIMP steel, thus impeding the diffusion of Fe and O ions more effectively.