The functional coating with high microhardness, high wear resistance and low friction coefficient on metal surface can reduce friction power consumption effectively and prolong the service life of mechanical equipments. In this study, Ni-P-SiC-WS2 composite coating was deposited on the stainless steel substrate by electroless composite plating. The surface morphology, microstructure, the composition, the microhardness, the tribological properties and the corrosion resistance of the coating were tested and analyzed. The results indicate that the surface of Ni-P-SiC-WS2 coating is compact. Extrinsic insoluble SiC and WS2 are entrenched in the coating and dispersed uniformly. Compared with other nickel coatings obtained under the same experiment condition such as Ni-P-SiC and Ni-P-SiC-MoS2, the tribological properties and the corrosion resistance of Ni-P-SiC-WS2 are improved effectively due to hard-particle-dispersion-strengthening and soft-particle-lubrication of SiC and WS2 in the composite coating.