The 17–4PH stainless steel is widely used in critical components such as turbine blades in the aerospace industry. To realize the repair and remanufacturing of damaged aerospace components made of 17–4PH, 15–5PH coating was prepared on the surface of 17–4PH using laser cladding technology. The phases, microstructure, microhardness, wear resistance, and corrosion resistance of the coating were analyzed. The results show that the coating is mainly composed of Fe–Cr, martensite, and α–Fe phases. The bonding area between the coating and substrate is a planar crystal structure, with columnar grains predominating at the bottom and middle, and a mixture of columnar and a small amount of equiaxed grains at the top. The average microhardness of the coating and substrate is 408.7HV_0.5 and 347.5HV_0.5, respectively, with an increase in coating hardness of 17.6%. The average friction coefficients of the coating and substrate are 0.3051 and 0.3754, and the wear cross-sectional areas are 813.74 μm² and 2058.12 μm², respectively, indicating a significantly improved wear resistance of coating compared to the substrate. The corrosion potentials (E_corr) of the coating and substrate are –1.0780 V and –1.0975 V, and the corrosion current densities (I_corr) are 1.229×10^–3 mA/cm² and 0.907×10^–3 mA/cm², respectively, demonstrating comparable corrosion resistance. The microstructure and surface properties of the coating suggest that laser cladding with 15–5PH coating can be applied to the repair and remanufacturing of aerospace components made of 17–4PH.