In the present work, a high-velocity oxy-fuel (HVOF) thermal spray process was used to deposit ceramic coatings containing alumina (Al2O3)-0.8   wt.% ceria (CeO2)-0.2   wt.% reduced graphene oxide (rGO) on 17-4 PH steel. The results were compared with the nitrided 17-4 PH (N17-4 PH) steel. The mechanical characteristics of the bare substrate, nitrided substrate, and coating were evaluated regarding micro (Vickers) hardness, scratch hardness, nanoindentation, and high-temperature nanoindentation (300 °C). The tribological behavior of all the specimens mentioned earlier was studied in a universal mechanical tester in a ball on flat reciprocating wear test mode for different loads. Electrochemical responses regarding corrosion properties in 3.5   wt.% aqueous salt solution were recorded and analyzed. The results showed that the ceramic coating performed better than the other two specimens regarding mechanical, tribological, and electrochemical properties. For example, the coating was nearly ten and six times more wear resistant than 17-4 PH steel and N17-4 PH steel, respectively, at 50   N load. The performance enhancement in the coating was ascribed to the coating hardness, dense microstructure, and introduction of rGO in the coatings, which participate in the tribological process. Further detailed analysis of the bare steel, ceramic coating, and the nitrided steel properties reveals that the nitriding process can be replaced with the proposed ceramic coating through the HVOF technique for tribological, corrosive, and extreme environmental applications for 17-4 PH steel.