The TC4 (Ti-6Al-4V) alloy has problems such as low material hardness, poor wear resistance, and abnormal sensitivity to adhesive wear and fretting wear. In this study, we used graphene-reinforced Ti/BN composite coatings prepared on the surface of the TC4 alloy by argon arc cladding technology. We explored the optimal content of graphene to improve its hardness and wear resistance. The physical phases and microstructures of the coatings were analyzed using an X-ray diffractometer, metallurgical microscope, and scanning electron microscope. Microhardness and wear properties of the cladding coating were measured by a Vickers hardness tester and a universal friction and wear tester. The incorporation of graphene resulted in a transformation of the reinforcing phase in the coating from TiN to Ti(N, C). The C element in the molten pool was substituted with the N element in an unending solid solution, resulting in the formation of Ti(N, C) through intermittent nucleation. As the amount of graphene in the molten pool increases, the concentration of carbon (C) also increases. This leads to the continuous growth of Ti(N, C) particles, resulting in a coarser coating structure and a decrease in coating performance. When the graphene content is 5 wt.%, the microstructure refinement of the coating is the most obvious, the microhardness is 900 HV0.2, which is 3 times higher than that of the matrix, and the wear rate is 4.9 × 10−5 mm3/(N·m), which is 4.9 times higher than that of the matrix. The wear mechanism of the coating is primarily abrasive wear with some slight adhesive wear.