Prepare all ingredients before assembling the dip.
In a medium-sized mixing bowl, combine the shredded Cheddar cheese, drained Mexican-style corn, mayonnaise, and sour cream. Stir until the mixture is evenly blended.
Add the diced green chiles, chopped green onions, and finely diced jalapeño. Mix thoroughly to distribute the flavors throughout the dip.
Cover the bowl and place it in the refrigerator for a minimum of two hours, allowing the ingredients to meld together. Serve chilled with your favorite dippers.