Aiming to improving the bonding strength, wear resistance and room temperature toughness of the Fe-Al intermetallic coating, the FeAlCr cored wire was designed. The coatings were prepared on the 45# steel substrate by high velocity arc spraying technology. Microstructures, phase composition and wear resistance of the composite coating were investigated by SEM, XRD and CETR wear tester. The mechanical properties were tested on a tensile testing machine and a hardness tester. The results show that the composite coating is characterized by compact microstructure, low oxygen content and well bonding with the substrate. The phases of the coating are composed of α-Fe, Cr3C2, Fe-Al, Ni3Al intermetallic compound and little oxide. The adhesive strength and average hardness of the coating are 47.2 MPa and 5.5 GPa which is about 2 times of the substrate. The wear resistance of the composite coating under load of 100 N and the oil lubricating abrasion condition is higher than that of the substrate. Furthermore, while the friction time is processing, the wear rate of FeAlCr coating is being decrease