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 degrees C and 550 degrees C. The XPS analysis revealed that the surface of oxidized sample at 450 degrees C is enriched with Nb2O5, while oxidized sample at 550 degrees C, comprises of NiO and Ni2O3. The Mott-Schottky analyses confirmed the formation of n-type semiconducting film on the 450 degrees C oxidized sample in the nitric acid medium, while p-type semi-conducting film on the 550 degrees C oxidized sample. Potentiodynamic polarization and EIS studies show that oxide film on the 450 degrees C oxidized sample exhibits highly protective barrier to the nitric acid when compared to the oxide film at 550 degrees C.