High entropy alloys (HEAs) have very extensive application value. At present, traditional iron-based alloys cannot achieve the effect of high-speed cutting. In order to improve the performance of traditional tool materials in high-speed cutting, laser cladding technology was used to modify the traditional tool materials. In this paper, the previous researches are reviewed, and the preparation methods and research status of HEAs blocks and coatings are also summarized. This work is based on thermodynamic semi-empirical criterion for alloy composition design. The microstructure and properties of the basic alloy system under the composition design are introduced, and the influence mechanism of adding different elements on the microstructure and properties of the coating is explored. Secondly, the effect of annealing and process parameters on microstructure and properties of high melting point and high entropy alloy coating by laser cladding on tool surface is introduced. Finally, the development prospect of high melting point high entropy alloy coating is prospected.