This Paper investigated the corrosion resistance and microstructural performance of zinc-magnesium oxide-tungsten boride (Zn-MgO-WB) composite coating on mild steel. Tungsten boride as an additive was co-deposited with zinc-magnesium oxide on mild steel via electrolytic deposition. The zinc-magnesium oxide and zinc-magnesium oxide-tungsten boride composite coatings were fabricated at the voltage of 0.6 and 0.8 V for 15 minutes and 45 °C. The effects of the deposits on the corrosion properties were examined. The corrosion behaviour was studied using linear polarization and weight loss method in 3.5% NaCl simulated environment. From the results obtained, it is evident that a decrease in applied potential influences the deposition of the coatings. The alloys with tungsten boride in their bath mixture performed better than those without. The zinc-magnesium oxide-tungsten boride (0.8 V) composite coated sample exhibits the least corrosion rate (Cr) of 0.0010482 mm/year and the microstructural examination of the sample via scanning electron microscope (SEM) unveiled homogeneous dispersion of particles and smooth morphology. The smooth morphology, defect-free surface, coupled with the uniform dispersion of the zinc-magnesium oxide-tungsten boride nanoparticles on the steel surface could have been responsible for high corrosion resistance performance of the coating in the simulated 3.5% NaCl medium. More so, the energy dispersive spectroscopy (EDS) revealed the presence of zinc, magnesium oxide, tungsten boride particles.