The NiCrBSi-Y2O3 composite coatings were prepared on the surface of 45 carbon steel by plasma spray, the microstructure and tribological properties of the coatings were investigated. The results show that the NiCrBSi-Y2O3 composite coatings are mainly composed of γ-Ni, CrB, Cr7C3 and Y2O3. With addition of Y2O3, hard phases such as CrB, Cr7C3 emerge in composite coating, and the density of the composite coatings also increases. The NiCrBSi-0.5Y2O3 composite coating presents excellent tribological properties. Its friction coefficient is 0.175, which is about 37% of that of the pure NiCrBSi coating. The mass wear loss is 1.2 mg, which is reduced by 43% compared with the pure NiCrBSi coating. When the loads are 6-10 N, the NiCrBSi-0.5Y2O3 composite coating suffers from slight wear and the wear mechanisms are mainly adhesive wear accompany with slight micro-cutting wear and micro-fracture wear. As the load increases to 12 N, the wear mechanisms are adhesive wear and severe micro-cutting wear.