Laser cladding is a new technology to fabricate a coating on the surface of a metal substrate. The properties on copper substrates are usually not very good due to the high thermal conductivity and reflectivity. The appropriate preheating temperature is helpful to fabricate coatings with good quality and properties, especially for copper substrates. In order to investigate the effect of different preheating temperatures, four coatings with different preheating temperatures (100, 200, 300 and 400 °C) were fabricated via a laser on a copper substrate. The microstructures and properties of four coatings were investigated using SEM, XRD, EDS, a Vickers microhardness meter, a wear tester and an electrochemical workstation. The results show that the elements from Ni-based alloy powder were uniformly distributed among the binding region, which obtained a good metallurgical bonding. The microstructure was mainly composited of cellular, dendrite and plane crystals, and the main reinforced phases were γ (Fe, Ni), Cr0.09Fe0.7Ni0.21, WC and Ni3B. The values of average microhardness of the four coatings were 614.3, 941.6, 668.1 and 663.1 HV0.5, respectively. The wear rates of the four coatings were 9.7, 4.9, 12.5 and 13.3 × 10−5 mm3·N−1·m−1, respectively, which were less than that of the copper substrate (4.3 × 10−3 mm3·N−1·m−1). The decrease in wear rate was due to the existence of the reinforced phases, such as WC, Ni3B, M7C3 (M=Fe, Cr) and Cr0.09Fe0.7Ni0.21. The fine crystals in the coating preheated at 200 °C also improved the wear resistance. Additionally, the minimum values of corrosion current density were 3.26 × 10−5, 2.34 × 10−7, 4.02 × 10−6 and 4.21 × 10−6 mA·mm−2, respectively. It can be seen that the coating preheated at 200 °C had higher microhardness, lower wear rates and better corrosion resistance due to the existence of reinforced phases and fine and uniform crystals.