The anticorrosion performance of commercial extract of ethanolic propolis (EP)-coated mild steel samples immersed in a 3.5% w/v NaCl in neutral and near neutral media was evaluated by classical electrochemical and electrochemical probe beam deflection techniques. The functional groups and major components of the extract were identified by Fourier transform infrared spectroscopy and high-performance liquid chromatography, respectively. The extract and the major constituent identified in the extract, 3,5-diprenyl-4-hydroxycinnamic acid (DHCA), are poorly hydro-soluble in a neutral medium. The bare and coated carbon steel surfaces were characterized by scanning electron microscopy and atomic force microscopy before and after a saline immersion. The electrochemical response of the coated electrodes was compared with bare mild steel electrodes and all qualitative and quantitative data obtained supported the hypothesis that EP is a potential mild steel corrosion inhibitor. Although several flavonoids are known to have remarkable antioxidant properties and be effective metal corrosion inhibitors, this work is pioneering in its evaluation of the inhibitory capacity of a natural product whose main constituent is DHCA.