<p>The corrosion resistance of experimental steel (S1 steel) smelted by oxide metallurgy technology and contrast steel (S2 steel) smelted without oxide metallurgy technology was compared by seawater corrosion experiment and H₂S corrosion experiment. The results show that the average size of inclusions in S1 steel is 0.2 <i>μ</i>m, and the average size of inclusions in S2 steel is 0.4 <i>μ</i>m. The oxide metallurgy process can effectively refine the oxide inclusions and reduce the contact area between the inclusions and the matrix. At the same time, the modified inclusions cannot form a corrosion galvanic cell with the steel matrix, which significantly improves the pitting behavior of steel induced by inclusions during seawater corrosion. The long strip MnS and some irregular Al–Ti–Zr–O–MnS inclusions in S2 steel induced the generation of hydrogen-induced cracks, while the spherical complex oxide inclusions in S1 steel and S2 steel did not induce the initiation of hydrogen-induced cracks. In S1 steel, crack length ratio (<i>CLR</i>), crack thickness ratio (<i>CTR</i>), and crack sensitivity ratio (<i>CSR</i>) are all 0, while in S2 steel, <i>CLR</i> = 106.7 pct, <i>CTR</i> = 6.8 pct, and <i>CSR</i> = 0.15 pct. The number of irreversible hydrogen traps per unit volume in S1 steel is 5.88 × 10²⁴·m⁻³, which is much larger than the number of irreversible hydrogen traps in S2 steel 2.11 × 10²⁴·m⁻³, which has a positive effect on optimizing the H2S corrosion resistance. The main failure mechanism of hydrogen-induced cracking corresponds to the H-enhanced localized plasticity (HELP) mechanism, while the main mechanisms of hydrogen-induced cracking are H-enhanced decohesion (HEDE) mechanism and internal pressure theory.</p>