A Mo 2 NiB 2 cermet coating on steel substrate was fabricated by laser cladding technique. The laser cladding samples were subjected to various microstructure examinations, hardness, and wear and corrosion tests. The results showed that a continuous, dense and adherent laser-clad coating was formed on the steel substrate. The coating consisted of g-(Fe, Ni) as a metallic matrix binder and Mo 2 NiB 2 particles as a reinforced phase distributed uniformly in the microstructure. Average hardness of the coating up to 700 HV was significantly higher than that of the matrix 150 HV. The coating exhibited a dry-sliding wear resistance that was increased by about 6 times relative to the steel substrate. Extensive pits formation on the surface and through the inner part had taken place for 304 stainless steel, while it disappeared in the coating.