An experimental study was performed to investigate the impact of corrosion on the mechanical properties of high performance steel (HPS) specimens. Fifteen HPS specimens were designed and subjected to electrochemically accelerated corrosion. The geometric features of the specimens were quantified by using 3D scanning technology. Then, tensile tests were employed to study the mechanical properties of the corroded HPS specimens. The relationship between the mechanical properties of the corroded HPS specimens and corrosion damage was discussed in detail. Meanwhile, a three-stage constitutive model was proposed to evaluate the mechanical behaviors of the degraded HPS specimens. Finally, a finite element model based on 3D scanning technology was developed and verified to investigate the stress distribution and failure of the tensile specimens. Results show that the maximum cross-sectional loss ratio is a suitable parameter for describing the mechanical properties of the degraded HPS specimens. The failure modes of the HPS specimens gradually vary from ductile to brittle as varies from 0% to 50.28%. It is found that the yield or ultimate load decreases linearly as the .increases. The corrosion-induced ductility reduction has an exponential relationship with. A comparison between the numerical results and experimental results shows that the proposed three-stage constitutive model is rational.