The AISI 317L stainless steel is an austenitic grade with at least 3%Mo. Recently, this steel has replaced AISI 316L in many applications in chemical and petrochemical industries, due to its higher pitting corrosion resistance. The microstructure of the hot rolled and annealed material studied in this work consists of austenitic grains and 4.0% of delta ferrite (δ) with elongated islands morphology. This microstructure was modified by three processes: cold rolling with 87% of reduction, aging at 450 o C for 400 h, and welding by gas tungsten arc welding (GTAW) process. The corrosion resistance was evaluated by anodic polarization tests (ASTM G-61) and critical pitting temperature tests (ASTM G-150). Cold rolling produced a microstructure consisting of elongated grains of austenite and martensite α', high dislocation density and the elongated islands of delta ferrite present in the annealed material. Welding produced a dendritic microstructure with 7.0% of delta ferrite and some σ precipitated in the ferrite. Finally, the aging at 450 o C for 400 h provoked the decomposition of ferrite. The results show that these microstructural changes affected the pitting corrosion resistance, as detected by ASTM G-61 and ASTM G-150 tests.