The potential of 5-Benzyloxy-6-methoxyindole, noted BMI as a corrosion inhibitor of mild steel in 1 M HCl was determined using weight loss, potentiodynamic polarization and electrochemical impedance spectroscopy methods (EIS). Maximum inhibition was attained at the concentration of 5.10-3 M. The inhibition efficiencies of BMI obtained from the impedance and polarization measurements were in good agreement where the maximum inhibition is around 91%. Potentiodynamic polarization measurement studies revealed that BMI behave as mixed inhibitor. The adsorption of BMI was found to follow Langmuir's adsorption model. Molecular modeling by Monte Carlo simulation was used to evaluate the structural, electronic and reactivity parameters of the indole derivative in relation to their effectiveness as corrosion inhibitor.