A Co3W3C fishbone-like hard phase-reinforced Fe-based wear-resistant coating and the preparation thereof, which belongs to the field of a wear-resistant coating on the surface of a material and a preparation method thereof. The wear-resistant coating comprises: 1.89-3.77% of C, 5.4-11.7% of Cr, 3.3-7.15% of Ni, 28.81-57.83% of W, 4.2-8.4% of Co, 0.03-0.065% of Si and the balance of Fe. The preparation process of the wear-resistant coating comprises: (1) before plasma cladding, pretreating a matrix; (2) pretreating an iron-based alloy powder; and (3) adjusting the process parameters of plasma cladding, preparing a cladding layer with a predetermined width and a predetermined thickness, and naturally cooling same down in air. The wear-resistant coating is simple in process; the prepared cladding layer has a strong metallurgical bonding property with the matrix structure, so that the best performance matching between the ceramic phase of the cladding layer and the matrix can be achieved; a fishbone-like hard phase Co3W3C has a very high hardness value and plays the role of a framework in the frictional process to reduce the wear of the matrix structure, thereby achieving an excellent wear resistance; plasma cladding is convenient to operate, and can be automatized; and the prepared wear-resistant layer is high in size precision and can be widely applied to surface modification of mechanical parts.