Red soil is characterized by low pH, high concentrations of organic acids and corrosive ions, and elevated microbial activity, which causes significant electrochemical and microbiological corrosion to the metal components of underground facilities. This study presented a comprehensive review of the corrosion mechanisms, key influencing factors, and protective strategies for underground facilities operating in such environments. The results revealed that the hydrogen evolution and oxygen reductions are the dominant electrochemical processes, while microbiological corrosion is primarily driven by sulfate-reducing bacteria, iron-oxidizing bacteria, and other functional microorganisms residing in stratified biofilms. Corrosion in acidic red soils exhibited multi-factor coupling, spatial heterogeneity, and gradual progression over time. To address these challenges, this study proposed integrated corrosion protection strategies that encompass material selection, multilayer anti-corrosion coatings, cathodic protection systems, and soil modification techniques. Furthermore, emerging trends such as intelligent monitoring technologies, data-driven corrosion prediction models, and eco-friendly protective materials were highlighted. This work provides valuable theoretical insights and engineering guidance for the durable, safe, and sustainable management of underground infrastructures in acidic soil environments.