This paper presents the results of an investigation into the post-buckling behaviour and ultimate strength of imperfect corroded steel plates used in ship and other marine-related structures. A series of elastic-plastic large deflection finite element analyses is performed on randomly corroded steel plates. The effects of general corrosion on both sides of the plates are introduced into the finite element models using a random thickness surface model. The effects on plate compressive strength as a result of parametric variation of the corroded surface geometry are evaluated. A proposal on the effective thickness is concluded in order to estimate the ultimate strength and explore the post-buckling behaviour of randomly corroded steel plates under uniaxial compression.