Aiming at the problem of easy wear and failure of the mold, a series of Fe50/TiC composite coatings with different TiC mass fractions were prepared on the surface of Cr12 mold steel using coaxial laser cladding technology. The microstructure, porosity, microhardness, and wear resistance of the cladding layers were investigated using scanning electron microscopy (SEM), microhardness tester, and tribological tester to explore the effect of TiC content on the cladding layer. Results show that as the TiC content increases, the microhardness and the wear resistance of the composite cladding layer increase, but the porosity also exhibits an increasing trend. At the same time, the higher the TiC content, the more undissolved TiC particles in the cladding layer for nucleation, and the more the microstructure nucleating and growing based on pariticles. When the mass fraction of TiC was 35%, the porosity of the cladding layer decreased and grown dendrite TiC was observed owing to dissolution nucleation. The average microhardness (46.3 HRC) of the cladding layer was approximately 2.4 times that of the substrate, and the wear volume was approximately 13% of the substrate. Fe50-TiC cladding layer fabricated using Fe50-35% TiC exhibits better comprehensive properties.