The microstructure and properties of laser cladding 316L stainless steel coating under three magnetic field intensities are compared. The surface morphologies, metallographic structures, and friction and wear morphologies of the three cladding layers are characterized via three-dimensional laser scanning confocal microscopy, metallurgical microscopy, and scanning electron microscopy, respectively. Results show that the application of magnetic field can reduce the surface roughness of the cladding layer and optimize the surface morphology. The grains in the cladding layer are considerably refined when the magnetic field intensity becomes 400 mT. In addition, the number of pores and cracks decreases. The average microhardness increases by 25% to become 573 HV, and the wear resistance is considerably improved.