5-Heptadec-8-enyl-4-phenyl-4H–[1,2,4] triazole-3-thiol (HPTT), 4-phenyl-5-undecyl-4H–[1,2,4] triazole-3-thiol (PUTT), and 5-dec-9-enyl-4-phenyl-4H–[1,2,4] triazole-3-thiol (DPTT) were synthesized and their influence on the inhibition of corrosion of mild steel in 20% formic acid was investigated by weight loss and potentiodynamic polarization techniques. The inhibition efficiency of these compounds was found to vary with their nature and concentration, temperature and immersion time. The values of activation energy and free energy of adsorption of the triazoles were calculated to investigate the mechanism of corrosion inhibition. Good inhibition efficiency (>90%) was found even at lower concentration (i.e., 25 ppm) in acid solution. The adsorption on mild steel surfaces was found to obey Temkin's adsorption isotherm. Potentiodynamic polarization results revealed that the compounds studied are mixed type inhibitors. Electrochemical impedance spectroscopy was also used to investigate the mechanism of the corrosion inhibition.