To study the microstructure characteristics and mechanical properties of the CoCrMoW alloy fabricated using laser melting deposition, we studied the microstructure evolution, phase composition, and mechanical property of CoCrMoW multi-track coatings at different laser powers. Multi-track and multi-layer samples were prepared by selecting better process parameters. Furthermore, we investigated the microstructure of multi-layer samples and processed the tensile samples to study the mechanical properties of CoCrMoW alloy. The results show that the phase composition of the CoCrMoW alloy coating consists of particles with different orientations, γ-Co and ε-Co compositions, and grain size coarsened gradually with the increase in laser power, decreasing the microhardness from 346.14 HV_0.2 (400 W) to 309.62 HV_0.2 (1000 W). The microstructure of the CoCrMoW alloy multi-layer sample is mainly composed of equiaxed crystal and columnar crystal structures, and the microhardness at the top of the block is slightly higher than that at the bottom. Both the average tensile and yield strengths of the deposited CoCrMoW alloy are 993.4 MPa and 492.987 MPa, respectively, showing brittle fracture. The fracture morphology is composed of a smooth section and cleavage surface, with an obvious river pattern and cleavage fracture mechanism.