In this paper, flexible conductive composite materials were prepared from flexible graphite and carbon fiber by mould pressing, and their micromorphology was studied by SEM. The influence of carbon fiber content on the mechanical properties and electrical conductivity of the flexible conductive composite material was studied, and the corrosion rate of the flexible conductive composite material coupling with galvanized steel in soil with different SO42− concentrations was studied. The results showed that the tensile strength reached 5.82 MPa when the mass ratio of carbon fiber to flexible graphite was 1:20, and the volume resistivity achieved 4.76 × 10−5 Ω·m when the mass ratio of carbon fiber to flexible graphite was 1:30. With the increase in molding pressure, tensile strength and electrical conductivity had a slight increase. When the flexible conductive composite material was coupled with galvanized steel, sulfate could accelerate the galvanic cell corrosion between the flexible graphite grounding material and galvanized steel. The increase in the sulfate concentration led to more corrosion acceleration. With the increase in corrosion time, the corrosion potential of the flexible graphite grounding material and galvanized steel coupling body decreased to its lowest at 30 days, and then increased gradually. The corrosion current was the highest at 30 days, and then decreased gradually.