This study presents a novel approach to enhancing the performance of Ni-W-SiC coatings through magnetic field-assisted electrodeposition, with a specific focus on the influence of magnetic field orientation. The coatings were evaluated for their structure, surface topology, roughness, corrosion resistance, and wear resistance. The results indicated that the perpendicular magnetic orientation of the coating, obtained at a magnetic field value equal to 0.3 T (S1), showed the largest content of SiC, with a minimal grain size of Ni-W, measuring 84.7 nm with smooth, fine, and dense surface architecture. The S1 coating’s surface roughness, as revealed by AFM images, was 24.46 nm, significantly less than that of the coatings produced with 0 T (S0) and 0.3 T (S2) magnetic inductions. XRD results revealed that the Ni-W grains’ predominant growth direction shifted from the planar direction of (200) to the (111) direction, due to the application of a magnetic field oriented perpendicularly. In addition, the S1 coating had an outstanding corrosion resistance. Furthermore, S1, among all coatings, had the highest value of hardness, along with the lowest coefficient of friction and higher wear resistance. This work sets the stage for future advancements in surface engineering, demonstrating the potential of magnetic field orientation as a tool for material enhancement.