Abstract: The wear and corrosion resistance of Fe_72.2Cr_16.8Ni_7.3Mo_1.6Mn_0.7C_0.2Si_1.2 and Fe_77.3Cr_15.8Ni_3.9Mo_1.1Mn_0.5C_0.2Si_1.2 coatings laser-cladded on AISI 4130 steel were studied. The coatings possess excellent wear and corrosion resistance despite the absence of expensive yttrium, tungsten, and cobalt and very little molybdenum. The microstructure mainly consists of dendrites and eutectic phases, such as duplex (γ+α)-Fe and the Fe–Cr (Ni) solid solution, confirmed via energy dispersive spectrometry and X-ray diffraction. The cladded Fe-based coatings have lower coefficients of friction, and narrower and shallower wear tracks than the substrate without the cladding, and the main wear mechanism is mild abrasive wear. Electrochemical test results suggest that the soft Fe_72.2Cr_16.8Ni_7.3Mo_1.6Mn_0.7C_0.2Si_1.2 coating with high Cr and Ni concentrations has high passivation resistance, low corrosion current, and positive corrosion potential, providing a better protective barrier layer to the AISI 4130 steel against corrosion.