A deicing composition comprises a mixture of a deicing agent and a corrosion inhibitor. The corrosion inhibitor comprises an effective amount of a polyhydroxy carboxylic acid, preferably an aldaric or aldonic acid. The salts of aldaric and aldonic acids are much more potent corrosion inhibitors for deicing than agricultural by-products or refined sugars that are today commonly used as corrosion inhibitors, and therefore can be used at lower concentrations to obtain the same effect as a higher concentration of a simple sugar. The deicing composition can be used as a deicer, anti-icer, or a pre-wetting agent. The deicing agent can include a deicing salt such as sodium chloride, magnesium chloride, and/or calcium chloride. Further, a method of making a deicing composition includes mixing a deicing agent and a corrosion inhibitor. The corrosion inhibitor can be dissolved in a liquid, such as brine, which can be sprayed on a solid deicing salt.