Hot dip plating is a main methods of iron and steel protection, but the traditional hot dip galvanizing products can not meet the actual needs. The addition of aluminium (Al), magnesium (Mg), rare earth (Re) and other alloying elements in zinc solution has become a hot research topic. In order to obtain multicomponent alloy coating with high corrosion resistance, a new type of hot dip galvanizing coating was obtained by adding Re yttrium(Y) into Zn-Al-Mg plating bath. The influence of adding elements Re Y, Al and Mg on the corrosion resistance of hot dipped galvanized coatings was studied by conducting immersion tests, salt spray tests and electrochemical tests (Tafel, EIS), and the anticorrosion mechanism of the coatings was primarily explored. The results showed that rare earth yttrium can improve the corrosion resistance of hot dipped galvanizing, and Zn-2%Al-1%Mg-0.08%Re alloy coating has the best corrosion resistance. Hopefully, the present work uses the current hot dip galvanizing production equipment and technology, the established galvanizing technology can be applied in industry.