The high-temperature wear resistant CoCr matrix coatings reinforced by the Nb element were fabricated on the Inconel 718 alloy by using the hot-pressed sintered method. The effects of Nb on the microstructure, hardness, and high-temperature tribological performance of coatings are also investigated in detail, and Nb content was further optimized. The tribological properties were investigated by using a ball-on-disk tribo-tester at 23 °C (room temperature), 200 °C, 400 °C, 600 °C, 800 °C, and 1000 °C. The results showed that the Nb element showed the solution strengthening effect and particle strengthening effect. The Nb greatly affected the tribological performance of the coatings. With the increase of Nb content, the wear-rate and friction coefficient initially decreased and then increased. There was a critical value of Nb content for the high-temperature wear behavior of coatings. The coating with 5.0 wt% Nb kept the best tribological properties compared with other specimens, and the wear resistance was 1.4–29 times as high as that of the substrate. It was attributed to the high hardness, high load-bearing capacity of the Nb-rich phases, and oxide lubricating film on the worn surfaces. The corresponding wear mechanism was discussed.