Ni60/60% WC composite coatings with a good surface roughness and high mechanical properties were successfully prepared on 316L stainless steel substrate by laser-directed energy deposition (LDED) technology. The effects of laser power on the microstructural evolution and mechanical properties of the Ni60/60% WC composite coating were investigated. The relationships between the chemical composition, the microstructure, the hardness, and the friction wear resistance of the composite coatings were characterized and investigated. The results show that the laser power had a significant effect on the energy input, which determined the melting extent of the Ni60 phases around the WC particles and the bonding strength between the reinforcements and the matrix, as well as the bonding strength between the substrate and the coatings. With an increase in the laser power from 800 W to 1400 W, the average hardness of the coating surface increased due to the increased densification of the deposited coatings and then decreased due to grain coarsening under a high energy input. The average coefficient of friction of the coatings decreased gradually to 0.383 at 1000 W, showing a minimum wear of 0.00013 mm2 at 1200 W. The main wear mechanisms on the coated surfaces were adhesive wear and abrasive wear. Moreover, the coatings deposited at 1200 W exhibited better forming quality and wear resistance. This work suggests that the processing parameters during LDED can be optimized to prepare Ni60/60% WC wear-resistant coatings with excellent mechanical properties.