TiN-matrix composite coating was prepared on 45# steel by reactive high-velocity oxy-fuel (HVOF) spraying. Its microstructure, phase composition, micro-hardness, corrosion resistance in 3.5% NaC1 solution and wear resistance were analyzed. The results suggest that the TiN-matrix composite coating is well bonded with the substrate. The micro-hardness measured decreases with the increase of applied test loads. And the micro-hardness of the coating under heavy loads is relatively high. The TiN-matrix composite coating exhibits an excellent corrosion resistance in 3.5% NaC1 solution. The corrosion potential of coating is positive and the passivation zone is broad, which indicates that the TiN-matrix composite coating is stable in the electrolyte and provides excellent protection to the substrate. The wear coefficient of the coating under all loads maintains at 0.49-0.50. The wear mechanism of the coating is revealed to be three-body abrasive wear. Yet the failure forms of TiN-matrix composite coating under different loads have an obvious difference. The failure form of coating under light loads is particle spallation due to the stress concentration while that of coating under heavy loads is crackin~ between inter-lamellae.