A controlled corrosion release system for a payload is provided. The payload is submerged in a conductive medium, such as seawater. The system includes clips which restrain the payload against a housing. A circuit is established to allow electrical current to flow from a power source contained within the housing, through the clips which serve as anodes, through the seawater, into the housing which serves as a cathode, and back to the power source. Accordingly, the clips corrode and weaken structurally. The clips eventually fail and the payload is released. The time for release is proportional to the power supplied, such that the release time can be controlled.