In this paper, protruded NiCoCrAlYTa-Al2O3 abrasive coatings were prepared by vacuum infiltration sintering, and the effect of the filler metal content on the microstructure before and after oxidation is investigated. The results show that, the Al2O3 grits are bonded to the coating matrix by a layer of Y-Al-O compound, and various types of G-phase are presented depending on the locations. Adjacent to the G-phase, larger γ' phase and γ/γ' eutectics are presented due to the expel of Al during the formation of G-phase. With the increase of the filler metal content, G-phase precipitation and the Si penetration depth into the single crystal superalloy substrate increase. After 1000 °C/100 h oxidation, the Y-Al-O intermediate layer between Al2O3 grits and the coating matrix is little changed, with an additional thermally grown oxide (TGO) layer between the Y-Al-O layer and the coating matrix presented. The selective oxidation of Al and Cr facilitates the formation of G-phase layer underneath the oxide film, and the rapid diffusion of Ti and the selective oxidation of Al yields the formation of γ' depletion region adjacent to the G-phase and on coating surface without Al2O3 grits.