In this work, a novel Co–Cr–Fe–Ni–Mo–Si multi-principal element alloy (MPEA)-based Laves phase alloy (T-MPEA) is designed and fabricated. The microstructure, mechanical properties and dry sliding wear properties of the new alloy are investigated, and compared to those of T-800 (Co-based) and T-700 (Ni-based) Tribaloy alloys. Hard intermetallic Laves phases disperse in face-centered-cubic solid solution in T-MPEA, and the Mo- and Si-rich Laves phase reaches a fraction of ∼60%. The compressive strength of T-MPEA reaches 1912 MPa, which is higher than that of T-700 and close to that of T-800. T-MPEA exhibits a mean hardness of 624 HV0.3, and maintains a high hardness above 500 HV0.3 even at 800 °C. Owing to its high strength and hardness, T-MPEA exhibits higher wear-resistance, compared to that of T-700 in all dry sliding wear tests, from room temperature to 600 °C. Owing to the high resistance to softening and dense oxide film formation at high temperatures, T-MPEA exhibits excellent high-temperature wear-resistance.