The present study investigated the surface morphology, phase composition, mechanical properties, and corrosion resistance of Ni-W alloy coatings prepared under current densities of 1–5 A/dm², after undergoing heat treatment at 400 °C, 600 °C, and 900 °C. The grain size of the as-plated Ni-W alloy coating was below 10 nm. After heat treatment at different temperatures, the grain size increased, reaching a maximum value of around 30 nm at 900 °C. Heat treatment crystallized and altered the structure of the coating. Different heat treatment temperatures yielded different precipitates, including Ni4W, Ni6W6C, and WC. The highest coating hardness (820–940 Hv) was achieved at 400 °C, while the best corrosion resistance was achieved at 600 °C. The precipitation hardening phase can be obtained by proper heat treatment temperature, yielding the desired properties of the composite coating.