Nowadays, Thin Dense Chromium (TDC) coatings are being industrially used in rolling bearings applications due to their claimed advantages such as high hardness, low wear, and good corrosion resistance. However, despite their broad commercial use, very little has been published in the open scientific literature regarding their microstructure, nanomechanical, and tribological properties. In this paper, TDC coatings with a thickness of about 5 µm were deposited by a customized electrochemical process on ASTM 52100 bearing steel substrates. Surface microstructure and chemical composition analysis of the TDC coatings was carried out by scanning electron microscopy and atomic force microscopy. The results revealed a coating with a dense, nodular, and polycrystalline microstructure. Unlike standard electrodeposited “Hard Chromium” coatings, TDC coatings show no presence of micro/nano-cracks, likely contributing to their superior corrosion resistance. The nanomechanical behavior, studied by nanoindentation as a function of penetration depths, exhibits a pronounced size effect near the coating surface that can be linked to the nodular microstructure. A hard surface with hardness HIT 14.9 ± 0.5 GPa and reduced elastic modulus Er = 216.8 ± 3.9 GPa was observed. Tribological characterization under the presence of lubricants was performed by two single-contact tribometers using coated and uncoated steel balls against flat steel substrates. An in-house fretting wear rig was used to measure the lubricated friction coefficient in pure sliding conditions, whilst the friction performance in rolling/sliding lubricated conditions was evaluated using a WAM test rig. In pure sliding, TDC/TDC contacts show ~13% lower friction than for steel. Under rolling/sliding conditions with 5% sliding, the traction coefficient of TDC/TDC coating contact was at least 20% lower than that for steel/steel contact. The tribological results obtained in various contact conditions demonstrate the benefits of applying TDC coatings to reduce bearing friction.