Rust is an iron oxide, a usually reddish-brown oxide formed by the reaction of iron and oxygen in the catalytic presence of water or air moisture. Rust consists of hydrous iron(III) oxides (Fe₂O₃·nH₂O) and iron(III) oxide-hydroxide (FeO(OH), Fe(OH)₃), and is typically associated with the corrosion of refined iron.

Given sufficient time, any iron mass in the presence of water and oxygen, will form rust and could eventually convert entirely to rust. Surface rust is commonly flaky and friable, and provides no passivational protection to the underlying iron unlike other metals such as aluminum, copper, and tin which form stable oxide layers. Rusting is the common term for corrosion of elemental iron and its alloys such as steel. Many other metals undergo similar corrosion, but the resulting oxides are not commonly called "rust".

Several forms of rust are distinguishable both visually and by spectroscopy, and form under different circumstances. Other forms of rust include the result of reactions between iron and chloride in an environment deprived of oxygen. Rebar used in underwater concrete pillars, which generates green rust, is an example. Although rusting is generally a negative aspect of iron, a particular form of rusting, known as stable rust, causes the object to have a thin coating of rust over the top; this results from reaction with atmospheric oxygen. If kept free of moisture, it makes the "stable" layer protective to the iron below, albeit not to the extent of other oxides such as aluminium oxide on aluminium.

Rust is a general name for a complex of oxides and hydroxides of iron, which occur when iron or some alloys that contain iron are exposed to oxygen and moisture for a long period of time. Over time, the oxygen combines with the metal, forming new compounds collectively called rust, in a process called rusting. Rusting is an oxidation reaction specifically occurring with iron. Other metals also corrode via similar oxidation, but such corrosion is not called rusting.

The main catalyst for the rusting process is water. Iron or steel structures might appear to be solid, but water molecules can penetrate the microscopic pits and cracks in any exposed metal. The hydrogen atoms present in water molecules can combine with other elements to form acids, which will eventually cause more metal to be exposed. If chloride ions are present, as is the case with saltwater, the corrosion is likely to occur more quickly. Meanwhile, the oxygen atoms combine with metallic atoms to form the destructive oxide compound. These iron compounds are brittle and crumbly and replace strong metallic iron, reducing the strength of the object.

When iron is in contact with water and oxygen, it rusts. If salt is present, for example in seawater or salt spray, the iron tends to rust more quickly, as a result of chemical reactions. Iron metal is relatively unaffected by pure water or by dry oxygen. As with other metals, like aluminium, a tightly adhering oxide coating, a passivation layer, protects the bulk iron from further oxidation. The conversion of the passivating ferrous oxide layer to rust results from the combined action of two agents, usually oxygen and water.

Other degrading solutions are sulfur dioxide in water and carbon dioxide in water. Under these corrosive conditions, iron hydroxide species are formed. Unlike ferrous oxides, the hydroxides do not adhere to the bulk metal. As they form and flake off from the surface, fresh iron is exposed, and the corrosion process continues until either all of the iron is consumed or all of the oxygen, water, carbon dioxide or sulfur dioxide in the system are removed or consumed.

When iron rusts, the oxides take up more volume than the original metal; this expansion can generate enormous forces, damaging structures made with iron. See economic effect for more details.