Attempts were made to improve the corrosion resistance of carbon steel by developing an additional barrier layer of magnesium ferrite (MgFe₂O₄) on magnetite (Fe₃O₄) film formed at high temperature in aqueous medium. The magnetite film was developed by exposing the carbon steel specimen in LiOH solution at 265°C for 10days. Subsequently, the magnesium ferrite (MgFe₂O₄) film was deposited by pulsed laser deposition (PLD) technique. X-ray diffraction analysis of the film revealed the formation of spinel phase of MgFe₂O₄. Relative atomic ratio of Mg and Fe estimated from X-ray photoelectron spectroscopy further confirmed the spinel phase of MgFe₂O₄. Scanning electron microscopy and atomic force microscopy techniques were used to analyze the film surface morphology. The corrosion behavior of the coated specimens was studied electrochemically. Impedance measurements showed an increase in impedance by more than two times in PLD coated samples compared to the Fe₃O₄ coated carbon-steel.