Plasma nitrocarburising and plasma post oxidation were performed to improve the wear and corrosion resistance of S45C and SCM440 steel by a plasma ion nitriding system. Plasma nitrocarburizing was conducted for 3h at $570^{circ}C$ in the nitrogen, hydrogen and methane atmosphere to produce the ${varepsilon}-Fe_{2-3}$(N, C) phase. Plasma post oxidation was performed on the nitrocarburized samples with various oxygen/hydrogen ratio at constant temperature of $500^{circ}C$ for 1 hour. The very thin magnetite ($Fe_3O_4$) layer $1-2{mu}m$ in thickness on top of the $15{sim}25{mu}m$ ${varepsilon}-Fe_{2-3}$(N, C) compound layer was obtained by plasma post oxidation. A salt spray test and electrochemical testing revealed that in the tested 5% NaCl solution, the corrosion characteristics of the nitrocarburized compound layer could be further improved by the application of the superficial magnetite layer. Throttle valve shafts were treated under optimum plasma processing conditions. Accelerated life time test results, using throttle body assembled with shaft treated by plasma nitrocarburising and post oxidation, showed that plasma nitrocarburizing and plasma post oxidation processes could be a viable technology in the very near future which can replace $Cr^{6+}$ plating.