With the rapid development of high-speed railway, wheel/rail premature wear and fatigue cracks occur frequently. Laser cladding high-quality coatings with high wear resistance and fatigue resistance on the damaged surface of wheel/rail can prolong its service life. In this review, the latest research progress of laser cladding Fe-based, Co-based and Ni-based coatings on the wear and fatigue of railway wheels/rails at home and abroad is reviewed. It is concluded that the wear resistance and fatigue resistance of Co-based alloy coatings are better than those of other alloy coatings. Adding strengthening elements to alloy powders can improve the welding process and improve the comprehensive properties of the coatings. Additionally, the laser cladding of railway wheel/rail is further envisaged as well.