The modeling of localized corrosion has usually focused on calculating the spatial and/or temporal distributions of chemical species, potential, and current. These are affected by the reactions considered, the geometry, and the modes of mass transport of importance. Finite element method (FEM) is a numerical technique to obtain approximate solutions to the differential equations based on different types of discretization in which the domain of interest is divided into different types of elements. The introduction of the FEM opened a variety of opportunities for increasing the complexity, and therefore the fidelity, of the localized corrosion conditions considered. This article first briefly introduces the FEM technique before describing the choices the modeler has with regards to the governing equations for the system. The history of the application of FEM to localized corrosion is given, highlighting the different aspects of localized corrosion that have been successfully modeled. Finally, some of the current challenges in FEM modeling of localized corrosion are outlined.