To improve the performance of W18Cr4V tool steel, Ni60A layer was obtained by laser cladding on its surface. The precipitates of Ni-based coating prepared at different pulse laser frequencies and their effects on wear resistance and impact were compared. Results show that coarser primary dendrites are formed and the eutectic zone is decreasing with increase of pulse frequency. When the pulse frequency is 80 Hz, the equiaxed crystal obtained basically shows the same size, and the number of particles in eutectic zone decreases obviously. When the pulse frequency is increased, the hardness of the coating continues to decrease, which results in higher wear rate. Moreover, furrows become fewer while the wear width continues to increase, and spalling and adhesion wear occur greatly. The impact toughness firstly increases and then decreases with rise of pulse frequency. The coating achieves the optimal impact resistance when the pulse frequency reaches 80 Hz. Under the action of pulsed laser, it is found that the small section size is similar to the grain size. It is inferred that the intergranular fracture appears with fewer stress concentration points.