AZ91 magnesium alloy is selected as the matrix metal. SEM, EDS, Tafel and EIS were adopted and spot test was carried out to investigate the influence of pH value, phytic acid concentration, temperature,conversion time on corrosion resistance of conversion coatings. Result shows that process of phytic acid forming is the controlled metal corrosion process and the uneven surface pattern reflects the different chemical properties of two-phase current on magnesium alloy surface, which is implied by the conversion surface. It is proved by the test that pH value is committed the most to the corrosion resistance of the conversion coating, and the next is the phytic acid concentration. It is found that the corrosion resistance of the conversion coating is the best when pH value of the conversion solution is 4.5; The conversion coating has little influence on the cathode reaction dynamics, however, more importantly, it changes the dynamics of the alloy electrode anode solution reaction, therefore, the alloy’s anode current density decreases while the corrosion resistance of magnesium alloy is enhanced.