The air-oxidation is a useful processing treatment to improve the corrosion resistance of Ni60Nb40 amorphous alloy. The oxidation kinetics of Ni60Nb40 amorphous ribbon follow two stage parabolic rate laws at 450 °C and 550 °C. The XPS analysis revealed that the surface of oxidized sample at 450 °C is enriched with Nb2O5, while oxidized sample at 550 °C, comprises of NiO and Ni2O3. The Mott-Schottky analyses confirmed the formation of n-type semiconducting film on the 450 °C oxidized sample in the nitric acid medium, while p-type semiconducting film on the 550 °C oxidized sample. Potentiodynamic polarization and EIS studies show that oxide film on the 450 °C oxidized sample exhibits highly protective barrier to the nitric acid when compared to the oxide film at 550 °C.