In the present work, the corrosion behavior of the Mg2Sn alloy (Mg66.7Sn33.3, concentration in at.%) has been studied. The alloy was prepared from high purity Sn and Mg lumps by induction melting in argon. The alloy was composed of intermetallic Mg2Sn with a small amount of Mg2Sn + (Sn) eutectic. The corrosion behavior was studied by hydrogen evolution, immersion, and potentiodynamic experiments. Three aqueous solutions of NaCl (3.5 wt.%), NaOH (0.1 wt.%) and HCl (0.1 wt.%) were chosen as corrosion media. The alloy was found to be cathodic with respect to metallic Mg and anodic with respect to Sn. The corrosion potentials of the Mg2Sn alloy were −1380, −1498 and −1361 mV vs. sat. Ag/AgCl in HCl, NaCl and NaOH solutions, respectively. The highest corrosion rate of the alloy, 92 mmpy, was found in aqueous HCl. The high corrosion rate was accompanied by massive hydrogen evolution on the alloy’s surface. The corrosion rate was found to decrease sharply with increasing pH of the electrolyte. In the NaOH electrolyte, a passivation of the alloy was observed. The corrosion of the alloy involved a simultaneous oxidation of Mg and Sn. The main corrosion products on the alloy surface were MgSn(OH)6 and Mg(OH)2. The corrosion mechanism is discussed and implications for practical applications of the alloy are provided.