The microbiologically influenced corrosion (MIC) is one of the most common forms of corrosion that results from the presence and activity of microorganisms. The presence of microorganism aids in the formation of a bio film and constitutes various bacterial cells, extracellular polymeric substrates (EPS) and corrosion products. In this paper, a review on the importance of MIC and various ways to mitigate has been introduced; a brief description of the physical, chemical, electrochemical and biological mitigation methods for MIC has been included and EPS formation mechanism, chemical composition, properties and its influence on corrosion has been discussed.