The paper presents the study results of laser processing of precoat applied on C30 steel. The precoat consisted of powder mixtures with a binder in the form of water glass. Tungsten powder, chromium, and tungsten carbide (WC) were used to produce the precoat. The laser processing was carried out using a Yb:YAG disc laser with a rated power of 1 kW. Constant producing parameters (power of laser beam, 600 W; laser beam scanning rate, 400 mm/min) were applied. Chemical composition of the precoat was a variable parameter in coating production. A mixture consisting of 50% W and 50% Cr as a metal matrix was prepared. Subsequently, WC particles in weight ratios of 25%, 50%, and 75% were added to matrix. As a result, W–Cr metal matrix composite coatings reinforced with WC particles were formed. This study focused on investigation of microstructure, microhardness, phase, and chemical composition as well as corrosion and wear resistance, of the newly formed W–Cr/WC coatings. An instrumented nanoindentation test was also used in this study. As a result of laser beam action, the newly formed coatings had an interesting microstructure and good properties which were improved in comparison to substrate material. It is anticipated that the resulting coatings, depending on the treatment parameters (e.g., W–Cr/WC powder mixture) used, can be successfully applied to metal forming or foundry tools.