It is an object of the present invention to provide a multi-layer coating having excellent adhesion and sliding properties, which contains a hard layer having a main component of a nitride and/or carbonitride containing one or more elements selected from the group consisting of Ti, V, Zr, Cr, Nb, Si, Al and B and a lubricating layer consisting of a metal element and molybdenum disulfide on the hard layer wherein the lubricating layer has a graded composition in which the metal element has a decreasing content from the hard layer side towards the surface and the molybdenum disulfide has an increasing content, and wherein the lubricating layer has a maximum oxygen concentration of no greater than 25 atom %.