A hardfacing for downhole progressing cavity pumps is disclosed as well as a method for producing same. The hardfacing consists of a metal carbide layer applied to the ferrous pump rotor body by way of plasma spraying and a top layer of metallic material having a lower hardness than the metal carbide. The metal carbide layer has a grainy surface with a plurality of peaks and intermediate depressions, the peaks being formed by metal carbide grains at the surface of the metal carbide layer. The thickness of the top layer is adjusted such that the depressions between the peaks of the metal carbide layer are completely filled thereby providing the rotor with a metal carbide hardfacing of significantly reduced surface roughness. In the process of the invention, the pump rotor, which may be provided with a molybdenum bonding layer, is plasma coated with the metal carbide and the resulting carbide layer is covered with the metallic material top layer. The top layer is polished either until the dimensions thereof are within the tolerances acceptable for the finished rotor or until a majority of the peaks of the carbide layer are exposed. The hardfacing significantly increases the service life of the rotor and stator of downhole progressing cavity pumps.