The paper report on the studies of the effect of severe plastic deformation on the structure and properties, including the corrosion behavior, of 110C-18Cr-Mo bearing steel. Various structural states were formed by the methods of severe plastic deformation (SPD) and subsequent heat treatment. It is shown that SPD and subsequent heat treatment lead to the formation of a homogeneous structure with a uniform distribution of carbides. In this case, heat treatment leads to a reduction of the volume fraction of carbides and an increase in the microhardness of the samples. Steel subjected to SPD demonstrates a decrease in the corrosion rate in one-molar solutions of salt and sodium hydroxide. Subsequent heat treatment leads to an additional decrease in the corrosion rate.