Martensitic stainless steel is a commonly used stainless steel, and is widely used in daily production and life, but its high content of alloy elements increases its cost. This study aimed to develop low-cost martensitic stainless steel with excellent seawater corrosion resistance by using Zr-Ti combined deoxidation with molten iron from low-priced laterite nickel ore as raw material, taking advantage of the corrosion-resistant elements Cr and Ni, abundant in laterite nickel ore. The characteristics of corrosion-active inclusions in steel, such as their density and electrostatic potential saturation-current density, were observed and studied using scanning electron microscopy and electrochemical testing methods. The intentionally added composite deoxidizing elements (Zr, Ti) form highly stable oxide particles at high temperatures. During the solidification of the molten steel and subsequent solid-state phase transformation, the highly corrosion-active MnS nucleates and disperses on the oxide particles already formed in the liquid phase, while TiN continues to precipitate and coat the MnS particles. This significantly reduces the saturation-current density of locally corrosion-active inclusions, resulting in a marked improvement in seawater corrosion resistance.