Silver-containing 2205 duplex stainless steel is used as an anti-bacterial material in the food industry and hospitals. 2205 duplex stainless steel has excellent corrosion resistance, high strength, and superior workability due to it having austenite (γ) and ferrite (δ). In this work, a quantitative analysis was carried out to estimate the effect of annealing temperature on the phase transformation of 0.1 wt.% Ag alloyed 2205 duplex stainless steel. Results show that the sigma (σ) phase was precipitated at the δ/γ interface and that the grain size increased with increasing heating temperature. The maximum volume fraction of σ phase was observed at 875 °C. The effects of the heat treatment induced constituent phases on the corrosion behavior of silver alloyed 2205 duplex stainless steel were also evaluated by means of electrochemical measurements.