Adverse environmental conditions result in corrosion during the life cycle of marine structures such as pipelines, offshore oil platforms, and ships. Generalized corrosion leading to the loss of wall thickness can cause the degradation of the integrity, strength, and load bearing capacity of the structure. Nondestructive detection and monitoring of corrosion damage in difficult to access areas can be achieved using high-frequency guided waves propagating along the structure. Using standard ultrasonic wedge transducers with single-sided access to the structure, specific high-frequency guided wave modes (overlap of both fundamental Lamb wave modes) were generated that penetrate through the complete thickness of the structure. The wave propagation and interference of the guided wave modes depend on the thickness of the structure and were measured using a noncontact laser interferometer. Numerical simulations using a two-dimensional finite element model were performed to visualize and predict the guided wave propagation and energy transfer across the plate thickness. During laboratory experiments, the wall thickness was reduced uniformly by milling of one steel plate specimen. In a second step, wall thickness reduction was induced using accelerated corrosion for two mild steel plates. The corrosion damage was monitored based on the effect on the wave propagation and interference (beating effect) of the Lamb wave modes in the frequency domain. Good agreement of the measured beatlengths with theoretical predictions was achieved, and the sensitivity of the methodology was ascertained, showing that high-frequency guided waves have the potential for corrosion damage monitoring at critical and difficult to access locations.