This study investigates the influence of chromium and molybdenum content (Cr: 20–35 wt%; Mo: 5 and 10 wt%) in a cobalt–chromium–molybdenum alloy system on the phases present in the microstructure, the nanomechanical, and electrochemical behavior of the alloys. A linear increase in the hardness is found in relation to the increasing chromium content for both 5 and 10 wt% Mo contents, whereas reduced modulus demonstrates an inflection at 30 wt% Cr, which is influenced by the molybdenum content. The open‐circuit potential, polarization resistivity, and linear sweep voltammetry disclose that passivity of Co–Cr–Mo alloys improves in line with increasing Cr until 30 wt%, with any further increase causing a depreciation in the corrosion properties. X‐Ray diffraction and optical metallographic analysis confirm that as the chromium content transitions through the 25–30 wt% range, the sigma (σ) phase begins to develop within the combined matrix of hexagonal close pack martensite (ε) and face‐centered cubic austenite (γ) phase.