Alkyl phosphonic acids are amphiphilic structures consisting of non-polar organic hydrophobic groups and anionic inorganic hydrophilic groups, which makes them be able to behave as surfactants as well as smart corrosion inhibitors. A simple and high yield (up to 87%) pathway for synthesizing decyl phosphonic acid (DPA) is described. 1H and 13C-NMR) as well as FTIR spectroscopy were used to characterize chemical structures and purity of the obtained product. Thermal properties and crystal structure of DPA were investigated using differential scanning calorimetry analysis (DSC) and thermogravimetric analysis (TGA). The stability of DPA in Oil-in-Water (O/W) and Water-in-Oil (W/O) emulsions was improved in the presence of ammonium persulfate (APS), which allowed us to measure their specific characteristics such as particle size and zeta potential (ζ) of micelles. Both emulsions were used for synthesizing polyaniline (PANI) by emulsion polymerization. Wettability of DPA on the mild steel surface was examined using contact angle measurements. Moreover, corrosion-inhibition properties studied by using electrochemical impedance spectroscopy (EIS) technique and salt spray test results revealed that DPA can be an efficient ingredient for anti-corrosion coating.