The work aims to develop a new formula of electroless nickel plating with hydrazine hydrate as reducing agent by comparing the microstructure and properties of electroless nickel plating of three metal salts and selecting the best metal salt. The effect of three metal salts (NiSO4?6H2O, NiCO3?2Ni(OH)2?4H2O, Ni(NH2SO3)2?4H2O) on morphology, plating rate and corrosion resistance of hydrazine hydrate electroless nickel plating on metal Fe was studied by morphology characterization means of metalloscope and scan electron microscope (SEM), rate characterization means of thickness measurement and weight method and corrosion resistance characterization means such as salt spray experiments and electrochemical polarization curve tests. With hydrazine hydrate as reducing agent in the electroless nickel plating solution, when other factors were the same, nickel sulfate had the best coating microstructure, followed by nickel aminosulfonate and nickel carbonate had the worst. The rate of electroless nickel plating was calculated by thickness method, the average rate of nickel carbonate plating was 5.33 μm/h, the average rate of nickel aminosulfonate plating was 4.83 μm/h, and the average rate of nickel sulfate plating was 4.00 μm/h. Corrosion resistance corresponded to morphology, the rust spot time of nickel sulfate coating in salt spray experiment was the latest, corrosion potential was the most positive and corrosion current was the least. The coating corrosion resistance of nickel sulfate was the best, followed by nickel aminosulfonate and nickel carbonate had the worst. Taking corrosion resistance as the standard for selecting metal salt, when nickel sulfate was selected as the metal salt, the deposition rate of electroless nickel plating is the slowest and the formed nickel plating layer has the best morphology and the best corrosion resistance, so nickel sulfate is the best choice of hydrazine hydrate electroless nickel plating metal salt.