Ni-Co alloy and ZrO2 particles were successfully codeposited on middle carbon steel substrate by electrodeposition. The oxidation resistance was evaluated by weight gains during high temperature oxidation test. The results indicate that, when the oxidation temperature is 573 K or 873 K, middle carbon steel, Ni-Co coating and Ni-Co-ZrO2 composite coating show lower weight gain. While the temperature is up to 1173 K, Ni-Co-ZrO2 composite coating possesses better oxidation resistance than Ni-Co coating and 45 steel. The reason may be that, the dispersive ZrO2 particles in the Ni-Co matrix reduce the effective area of Ni-Co alloy contacting with ambient oxygen, and new phases like NiO and CoO further prevent inward oxygen diffusion.