The work aims to prepare iron-containing diamond-like film (Fe-DLC) on 304 stainless steel substrate by DC reactive magnetron sputtering system and study wettability and corrosion resistance of the iron-containing diamond-like film. Structure and morphology of the Fe-DLC film were characterized by SEM, Raman and AFM respectively. Wettability of the Fe-DLC film was analyzed by static contact angle measurement, and the corrosion behavior of the Fe-DLC film and uncoated Fe-DLC sample in 3.5wt% NaCl solution was tested by means of potentiodynamic polarization technique. The prepared Fe-DLC film had typical diamond-like amorphous structure and flow rate of methane significantly affected the morphology and structure of the films during the process of preparation. The sp3 carbon content in the film decreased and film compactness decreased gradually as the flow rate of methane reduced during the process of preparation. Hydrophobic property of the film surface decreased gradually, self-corrosion potentials shifted to more negative values and the corrosion current density increased as the flow rate of methane reduced. The hydrophobic property and corrosion resistance performance of 304 stainless steel surface can be improved by iron-containing diamond-like film.