The laser cladding technology successfully prepared Fe-based JG-8 alloy composite coatings with different La2O3 content on the surface of 27SiMn steel substrate, and systematically studied the effect of adding La2O3 on the structure and properties of Fe-based JG-8 alloy composite coatings. X-ray diffractometer (XRD) and scanning electron microscope (SEM) equipped with energy spectrometer (EDS) were used to analyze and test the phase structure and microstructure of Fe-based JG-8 alloy composite coating. The hardness and tribological properties of the Fe-based JG-8 alloy composite coating were analyzed and evaluated by a microhardness tester and a friction and wear tester at room temperature. The results show that the addition of La2O3 can effectively refine the structure and transform the crystal grains from the original columnar crystals to fine planar crystals. The hardness of the Fe-based JG-8 alloy composite coating shows a trend of first increasing and then decreasing with the increase of La2O3 content. Among them, the hardness (532.76Hv0.3) of the 0.8wt% La2O3 Fe-based JG-8 alloy composite coating is the highest. Compared with the Fe-based JG-8 coating without La2O3 added, the hardness of the 0.8wt% La2O3 Fe-based JG-8 alloy composite coating increased by 15%. In the friction and wear process, the main wear mechanism of the Fe-based JG-8 coating without La2O3 is adhesive wear and fatigue wear, and the main wear mechanism of the 0.8wt% La2O3 Fe-based JG-8 alloy composite coating is abrasive wear. The 0.8wt% La2O3 Fe-based JG-8 alloy composite coating has the lowest volume wear, which is 37.1% lower than that of the Fe-based JG-8 coating without La2O3.