This study investigates the effect of deposition pressure on the microstructure and tribological properties of CrAgCeN coatings synthesized via unbalanced magnetron sputtering. The CrAgCeN coatings presented a face-centered cubic structure. As the deposition pressure increased, the surface grain topography of the CrAgCeN coatings transformed from a looser pyramidal structure to a denser structure, while their hardness H and elastic modulus E first increased and then decreased. The strengthening effect was mainly attributable to Ag and Ce elements. Conversely, the coefficient of friction (COF) and wear rates of the coatings reduced and then increased. Under 0.6-Pa deposition pressure, the COF and wear rate of the CrAgCeN coating were minimized (0.391 and 3.2 × 10−7 mm3/(N·m), respectively) while the H and E were maximized (14.2 and 206.2 GPa, respectively). The values of hardness, wear resistance, resistance of elastic strain to failure (H/E) and resistance to plastic deformation (H3/E2) were improved for the coatings by Ce. The wear mechanisms were adhesion and delamination. The wear mechanisms were adhesion and delamination. Selecting the appropriate deposition pressure can improve the tribological properties of the CrAgCeN coatings. The received results of research in this study allow us to establish a rational coating composition for deposition on tools providing an increase in machining efficiency of the materials used in engineering. CrAgCeN coating with excellent properties may be applied to steel substrate through the combined action of corrosion, high temperature and mechanics.