The structural-phase composition and tribological and performance properties of coatings based on an 86WC-10Co-4Cr composition obtained by the HVOF method at varying (150 L/min, 170 L/min, 190 L/min) oxygen flow rates were studied. The results showed that the coefficient of friction of coatings in gear oil remained almost unchanged with the variation in oxygen flow rate. However, microhardness increased significantly with an increasing oxygen flow rate, reaching a maximum at 190 L/min. An increasing oxygen flow rate was also accompanied by an increase in roughness and coating thickness, with a decrease in porosity, particularly notable at 190 L/min. Adhesion strength reached the maximum values for the A2 and A3 coatings under high loads. The phase composition of the coatings included WC, W 2C and CoO phases irrespective of the oxygen flow rate, and their microstructure was characterized by a more homogeneous and dense structure. Thus, this study confirmed that the optimal oxygen flow rate for achieving an improved performance and tribological characteristics of 86WC-10Co-4Cr coatings is 190 L/min.