Laser cladding has the advantages of compact microstructure, good bonding between coating and substrate, and small dilution rate and deformation. Co-based alloy is widely used in laser cladding because of its high hardness, good wear resistance, high temperature resistance, and corrosion resistance. In this paper, the research status of laser cladding preparation of cobalt-based alloy coatings at home and abroad is analyzed, and the influence of main process parameters such as laser power, scanning speed, and powder feeding rate on the quality and performance of coating cladding is discussed. The related researches on additives such as hard phase ceramic powder, rare earth and solid lubricant additives, and other auxiliary processes to improve the performance of Co-based alloys are summarized. Finally, the insufficiency and development trend of laser cladding cobalt-based alloys are summarized and prospected.