The influence of SiO2 particles on the microstructure, phase composition, corrosion and wear performance of plasma electrolytic oxidation (PEO) coatings on AM50 Mg was investigated. Different treatment durations were applied to fabricate coatings in an alkaline, phosphate-based electrolyte (1 g/L KOH + 20 g/L Na3PO4 + 5 g/L SiO2), aiming to control the incorporated amount of SiO2 particles in the layer. It was found that the uptake of particles was accompanied by the coating growth at the initial stage, while the particle content remained unchanged at the final stage, which is dissimilar to the evolution of the coating thickness. The incorporation mode of the particles and phase composition of the layer was not affected by the treatment duration under the voltage-control regime. The corrosion performance of the coating mainly depends on the barrier property of the inner layer, while wear resistance primarily relies on the coating thickness.