In this work, Co–P coatings were deposited from a chloride-based bath by direct current (DC), pulse current (PC) and pulse reverse current (PRC) methods, respectively. The effects of current modes on the microstructure, composition, microhardness, wear resistance and corrosion resistance of the Co–P coatings were explored. Results showed that the P content in the Co–P coatings increased and the surface roughness decreased in the sequence of DC, PC and PRC methods. The coatings with low P content deposited by DC and PC methods are crystalline with fcc and hcp structures, respectively, while the coating with high P content deposited by the PRC method is amorphous. Comparing to DC and PC methods, the PRC method can evidently improve the microhardness, wear resistance and corrosion resistance of Co–P coatings. The excellent wear and corrosion resistance of the Co–P coatings deposited by the PRC method could be attributed to its high P content, smooth surface and amorphous structure.