Since rare earth oxides and hard ceramic particles improve coating quality, a novel Al 2O 3@Y 2O 3 core–shell structure was prepared. Then, Ni60A coatings with different amounts (2~6 wt.%) of Al 2O 3@Y 2O 3 core–shell structures were prepared using laser cladding technology on an H13 steel surface. To demonstrate the unique effect of the core–shell structure on the performance of the coatings, a set of controlled experiments was also conducted with different proportions of Al 2O 3-Y 2O 3 mechanically mixed powders. The effect of Al 2O 3@Y 2O 3 addition on the phase composition, element distribution, microstructure, wear, and corrosion resistance of the coatings was characterized and tested thoroughly. By comparing the forming quality, hardness, wear, and corrosion resistance of the different coatings, 2 wt.% was confirmed as the optimal concentration of Al 2O 3@Y 2O 3, and its corresponding friction coefficient was about 0.44. The wear rate was approximately 4.15 × 10 −3 mm 3·(N·m) −1, the self-corrosion potential was around −0.3659 V, and the self-corrosion current density was about 1.248 × 10 −6 A·cm −2.