The college, situated on Merton Street between Merton College and Christ Church, is one of the smallest in Oxford by student population, having around 250 undergraduates and 90 graduates. The college's role in the translation of the King James Bible is historically significant. The college is also noted for the pillar sundial in the main quadrangle, known as the Pelican Sundial, which was erected in 1581.

The college traditionally keeps at least one tortoise as a living mascot, cared for by an elected 'Tortoise Keeper'. The 'Tortoise Fair', at which the Corpus tortoise(s) are raced against tortoises belonging to other colleges and local residents, is an annual event held to raise funds for charity. The current tortoise is named 'Foxe', after the founder of the college.