High-cycle fatigue (HCF) is one of the primary failure modes for turbine blades in aero-engines. Therefore, comprehending the effect of coating on the HCF property of single crystal (SX) superalloys is vital for the safe service of turbine blades. In order to mimic the degradation of the fatigue property for the turbine blades during service, this study investigated the effect of PtAl coating on the HCF property of a third-generation Ni-based SX superalloy using sheet specimens at 900 ℃ and different maximum stresses (σmax). The results indicated that both coating and σmax affected the fatigue properties and crack initiation process of SX superalloy. A transition in fatigue crack initiation site from the internal micropores to the surface cracks for both uncoated and coated alloys has been observed as the σmax decreased. However, the coating significantly increased the σmax required for the transition of the crack initiation site. Meanwhile, the HCF property of the SX superalloy was reduced with the deposition of PtAl coating at lower σmax, and the debit in HCF life was more pronounced with decreasing the σmax. The coating facilitated the rapid nucleation of surface cracks and promoted the transition of the fatigue crack initiation site under higher σmax. On the other hand, since the HCF life is controlled by the crack growth rate, grain boundaries in the interdiffusion zone (IDZ) and secondary reaction zone (SRZ) accelerated the growth of the surface crack under lower σmax, resulting in a shorter crack initiation stage and lower fatigue life compared to the uncoated alloy. This study will be helpful in accurately predicting the HCF life of the coated Ni-based SX superalloys.