A closed-form solution is presented for the mechanochemical corrosion of an elastic infinite plane containing an elliptical hole and subjected to uniform remote tension or compression. The corrosion is defined as the dissolution of the material along the surface of the hole with a rate which is proportional to the maximum principal stress at the corresponding points on the surface. Moreover, the dissolution rate can decay exponentially with time. It is confirmed that there exists a threshold load, such that the hole's shape elongates/evolves towards a circle when the applied stress lies above/below this threshold in absolute value. This threshold is determined by the relationship between the general corrosion of unstressed material and corrosion sensitivity to stresses. Formulas for the assessment of the lifetime of a plane in the case of the stress growth are obtained with inhibition of corrosion being taken into account.