The Al-Mg coatings were deposited on high-speed electro-galvanizing steel by using double-target DC magnetron sputtering. Numerous Al-Mg coatings were prepared with a range of different Mg-target power at different substrate temperatures. The morphologies and compositions were analyzed by SEM, EDS and XRD, the corrosion-resistance properties with different sputtering parameters were discussed by electrochemical measurement. It was found that with the substrate temperature increasing, the porosity decreased, meanwhile, higher substrate temperature resulted in more granular particles and an increased average particle size, but that did not affect corrosion properties obviously. The corrosion-resistance properties were found to be significantly affected by the targets power. As the power of Al-target and Mg-target were 900W and 200W respectively, the film acted the best corrosion-resistance property. Corrosion current density was approximately 4μA/cm2, decreased significantly compared with galvanized sheet. After analysis, the coating was mainly composed of Al12Mg17 which afforded sacrificial anode protection. As the Mg-target power over high relative to Al-target, the coating was composed of Al12Mg17 and MgZn2, the latter can cause micro-galvanic acceleration of corrosion.