Let $B$ be a smooth projective connected variety over $\mathbb C$. Let $\sigma:B\to B$ be an endomorphism of degree one.
Do I understand correctly that $\sigma$ is an automorphism?
I believe this should follow from Zariski's main theorem, I thought it wouldn't hurt to be sure by asking here.
More generally, what kind of assumptions do we really need on $B$ to conclude that every degree one endomorphism is an automorphism?
Yes, what you want is true, more or less by ZMT as you say. Here's an argument.
First, $\sigma$ is surjective, since it is dominant and $B$ is projective and irreducible.
By ZMT, $\sigma$ has connected fibres, so if it is not an isomorphism, it must contract a curve. But now if $f: X \rightarrow Y$ is a surjective map of smooth proper varieties, with connected fibres, and $f$ contracts a curve, then the Picard number goes down: $\rho(Y) < \rho(X)$. So if $Y$ and $X$ are the same variety, we get a contradiction.
The same argument works as long is $B$ is just $\mathbf{Q}$-factorial (including normal & irreducible) instead of smooth. (Though as QiL'8 points out, this assumption is still much stronger than is needed.)