The electrolytic reduction of a spent oxide fuel involves the liberation of oxygen in a molten salt LiCl–Li2O electrolyte, which creates a corrosive environment for typical structural materials. In this study, the corrosion behaviors of Al–Y-coated specimens in a Li molten salt kept under an oxidizing atmosphere at 650 °C for 72 and 168 h were investigated. The weight loss fraction of the coated specimen to bare specimen was approximately 60% for 3% Li2O and 54% for 8% Li2O at 72 h, and approximately 38% for 3% Li2O and 30% for 8% Li2O at 168 h. Corrosion was induced in the LiCl–Li2O molten salt by the basic oxide ion O2− via the basic flux mechanism, and the corrosion product was found to be dependent on the activity of the O2− ion. The increase in weight loss may have been caused by the increase in the O2− concentration due to the increase in the Li2O concentration rather than being because of the increased reaction time. The Al–Y coating was found to be beneficial for hot corrosion resistance, which can be useful for handling high-temperature lithium molten salt under an oxidizing atmosphere.