Fe-Al/WC intermetallic composite coatings were prepared by high velocity arc spraying (HVAS) technology on 20G steel and the oxidation performance of Fe-Al/WC composite coatings was studied. The results demonstrate that the kinetics curve of oxidation approximately follows the logarithmic law and the oxidation velocity of Fe-Al/WC composite coatings is less than that of 20G steel after 5 h. The composition of oxidized coating is mainly composed of Al2O3, Fe2O3, Fe3O4 and FeO. These phases distribute unevenly. The protective Al2O3 film firstly forms and preserves the coatings from further oxidation.