Fabrication technologies, formation characteristics and microstructure of Fe-based amorphous alloy coatings were reviewed. It could be found that as heat input increased during spraying, coating structure compactness increased and pore density reduced, while amorphous content reduced and oxygen content increased in the coatings. The progress of corrosion property and behavior, wear mechanism and engineering application status of the Fe-based amorphous alloy coatings were summarized. The corrosion property depended on homogeneity of chemical composition and microstructure. The higher the amorphous content was, the better the corrosion resistance and wear resistance were. The lower the amorphous pore density was, the better the corrosion resistance and wear resistance were. However, no common understanding was reached on pitting rule and mechanism of the amorphous coatings. Based upon research status of the amorphous coatings, problems of the coatings in fabrication, properties and relevant mechanism were proposed. Finally, application prospect of the Fe-based amorphous coating was forecast.