In order to modify the surface of light metals and alloys, plasma electrolytic oxidation (PEO) is a useful electrochemical technique. During the oxidation process, by applying a positive high voltage greater than the dielectric breakdown value of the oxide layer, the formation of a ceramic film onto the substrate material is enabled. The resulting surface presents hardness, chemical stability, biocompatibility, and increased corrosion wear resistance. The current study aims to investigate the corrosion resistance and tribological properties of PEO-modified coatings on titanium substrates produced by applying either direct or pulsed current in a silicate-alkaline electrolyte. In this way, a uniform TiO2 layer is formed, and subsequently, electrophoretic deposition of hydroxyapatite particles (HAP) is performed. The morpho-structural characteristics and chemical composition of the resulting coatings are investigated using scanning electron microscopy combined with energy dispersive spectroscopy analysis and X-ray diffraction. Dry sliding wear testing of the TiO2 and HAP-modified TiO2 coatings were carried out using a ball-on-disc configuration, while the corrosion resistance was electrochemically evaluated at 37 °C in a Ringer’s solution. The corrosion rates of the investigated samples decreased significantly, up to two orders of magnitude, when the PEO treatment was applied, while the wear rate was 50% lower compared to the untreated titanium substrate.