The present invention relates to a system (1) and method for deposition of coatings on a substrate (10). More particularly, the invention concerns a system and method for low-temperature deposition of corrosion-proof, wear-resistant ion-plasma coatings. A system for deposition of an ion plasma coating on a substrate, said system comprising: a housing (2) defining a vacuum chamber and having access means for the introduction and retrieval of a substrate (10) to be coated; a plasma vacuum deposition (PVD) source (8) communicating with the interior of said housing; an electrically conductive support (12) on which said substrate is placed; a gas ion-plasma source (14) cathode assembly communicating with said chamber in spaced-apart relationship to said support; a first power supply (20') electrically connected to said support; a second power supply (20'') electrically connected to said cathode assembly, and a third power supply (20''') of additional discharge electrically connectable to said cathode assembly, wherein said power supplies are operative to effect pulsed discharge on said gas ion-plasma source cathode assembly or pulsed accelerating voltage on said support.