This work investigated the corrosivity of biomass-derived liquid fuels and organic acids associated with bio-oils and conducted a corrosion compatibility evaluation of several structural ferrous alloys in the fuels and acids. Here, the acidity parameters and solution conductivity values were higher in raw pyrolysis bio-oils than postprocessed oils with significant corrosion attack for carbon steel and Fe-2.25Cr-1Mo. However, higher-grade stainless steels, ferritic Fe-15Cr (15Cb) and austenitic types 304L and 316L, showed negligible corrosion loss, whereas lower-Cr ferritic grades 409, 410, and 416 were attacked. Metal leaching tests and electrochemical impedance spectroscopy measurements revealed superior corrosion resistance of 316 over 410 stainless steels in solutions of formic and oxalic acids that can be present in bio-oils. The corrosion evaluation methods utilized in this work provide effective screening tools to identify the compatible structural alloys for bio-oils.