The Ni-Nd2O3 nanocomposite coatings were prepared by electrodeposition with different modes of ultrasound action. The surface morphology and co-deposited Nd2O3 content of Ni-Nd2O3 nanocomposite coatings were analyzed by scanning electron microscopy (SEM). The microstructure of Ni-Nd2O3 nanocomposite coatings after oxidation was examined. The oxidation resistance of the coatings prepared by different electrodeposition methods was comparatively investigated. The results show that the content of Nd2O3 nanoparticles greatly influences the oxidation resistance of nanocomposite coatings. The nanocomposite coating has an excellent oxidation resistance with the increased content of Nd2O3 nanoparticles. Meanwhile, Nd2O3 nanoparticles and ultrasound can significantly affect the microstructure and the oxidation resistance of Ni-Nd2O3 nanocomposite coatings. The Ni-Nd2O3 coating prepared by electrodeposition with dual-frequency ultrasound action has finer grains and denser structure and exhibits a superior oxidation resistance compared with the other coatings.