Abstract: Sulfate-reducing bacteria (SRB) is a primary contributor of microbiologically influenced corrosion (MIC) in oil and gas fields, with their induced localized corrosion posing severe risks to the service safety of pipeline materials. Recent advances in SRB corrosion research were briefly summarized, and the mechanistic underpinnings of SRB-mediated corrosion were reviewed, and the interaction mechanisms between SRB and typical localized corrosion forms, including pitting corrosion, stress corrosion cracking, crevice corrosion, and galvanic corrosion, were specifically examined. The investigations demonstrate that SRB adhesion on metal surfaces and the secretion of extracellular polymeric substances (EPS) facilitate biofilm formation, intensifying the initiation and propagation of pitting corrosion. The differential proliferation of SRB within and outside crevices amplifies galvanic effects, accelerates the dissolution of anodic metal regions inside crevices. Heterogeneous growth of SRB biofilms induces localized pitting, promotes the nucleation and propagation of stress corrosion cracks. Additionally, SRB accelerates galvanic corrosion between dissimilar materials by exploiting anodic electrons to enhance metabolic activity and surface adhesion. This study aims to elucidate the role and severity of SRB in localized corrosion of oil and gas pipeline materials, offering a theoretical basis for identifying corrosion failure modes and formulating targeted corrosion mitigation strategies.