Type 316L stainless steel is a promising material for many applications because of a good combination of its excellent mechanical properties and high corrosion resistance. However, e.g., in nuclear power industry it is exposed to severe conditions, where low-cycle fatigue (LCF) is a predominant failure mode. The LCCF behavior of austenitic stainless steel in a purely bending mode in air and NaCI solution was investigated at room temperature as a function of plastic strain amplitude, environment, and strain ratio. A complicated process of corrosion fatigue failure of metals was satisfactorily described by a simple equation containing only two macroscopic parameters. Experimentally found coefficients in the equation of Coffin-Manson type for steel 316L in a fully reversible mode and in an asymmetrical mode of pure bending could be used for predicting its lifetime at different strain values and in different environmental conditions. The environmental factor showed increased with decreasing plastic strain amplitude due to a significant increase in fatigue life of steel and duration of the corrosive impact. The changes in cyclic ductility parameters with the changes in strain ratio reflected the changes in mechanochemical interactions. This is an abstract of a paper presented at EUROCORR 2010 (Moscow, Russia 9/13-17/2010).