Using laser cladding technology, a Ni-based WC cladding layer containing rare earth Y2O3 was prepared on the surface of 40Cr10Si2Mo steel. Compare the effects of different Y2O3 content on the macro morphology, microstructure, phase composition, microhardness, and friction and wear properties of the cladding layer. The results show that: Y2O3 can enhance the fluidity of the molten pool, reduce the first height of the multi-pass cladding layer, optimize the structure of the cladding layer, and purify the cladding layer; the addition of Y2O3 can improve the hardness and resistance of the cladding layer abrasion. Compared with the cladding layer without Y2O3 added at 0.5%, 1.0%, and 1.5%(mass fraction), the average hardness of the cladding layer is increased by 10.1%, 22.3%, and 18.4%, respectively, and the wear amount is decreased respectively 9.7%, 26.7%, 12.7%, when the addition of Y2O3 is 1.0%, the resulting cladding layer has the least defects and the best wear resistance.