This study shows that WC-12Co coatings with low porosity and high wear and corrosion resistance can be applied by high velocity oxygen-fuel (HVOF) on a low melting and highly flammable ZE41 magnesium alloy. This provides a novel and promising use of the high-energy thermal spraying technique on low temperature melting substrates. The spraying distance used was 300 mm, which is between two and three times the recommended distanced for HVOF coating with WC-12Co on steels. Despite this, the WC-12Co coatings obtained were homogeneous, crack-free, and dense. The coatings were very well adhered to the substrates and the spraying distance allowed avoiding any thermal affectation of the substrate. The thickness of the coatings was limited to 45 μm to avoid a big mass increase in the samples. The effect of the number of layers, the O2/H2 ratio and the gas transport flow in the coating was studied. The coatings reduced the wear rate of the substrate by 104 times, making them wear resistant. Electrochemical corrosion tests were conducted to study the corrosion protection of the coatings, showing that it is possible to protect the magnesium substrate for 96 h in contact with 3.5 wt.% NaCl aqueous solution.