Elbow is a key part of the pipeline system, and it is easy to be corroded. Existing theoretical methods overly simplify corrosion defect, making it difficult to accurately predict the burst pressure of elbow containing corrosion defect. In order to solve this problem, a finite element model is established to conduct finite element analysis of the explosion pressure of elbow with corrosion defect. Then, based on the Goodall equation and finite element analysis results, a new prediction equation for the burst pressure of elbow with corrosion defect is proposed. Finally, the accuracy of the prediction equation is verified by finite element analysis and experiments.