In addition to the basic properties of the base and top coating agents, corrosion resistance of non-chrome magni 565 coating and characteristics of coating film when coated to steel substrate were studied. The system had a good wettability at room temperature. Moreover, both the contact angle and surface tension were affected little by the viscosity of coating agent and surface roughness of the steel substrate. And the samples coated with optimal conditions showed a great corrosion resistance in salt spray test with 1500 hours or longer of initial appearance time of rust. The coating film was composed of overlapping layer of zinc and aluminium flakes, and the thickness of base coat increased with an increase of base coat viscosity. Based on the C-F peaks of 1,1-Difluoroethaen homo-polymer, it was thought that the base coat was an inorganic polymer bond layer. Meanwhile, the top coat showed C-F peaks of polytetrafluoroethylene with C-H peaks of phenol in FT-IR analysis. From the lower weight loss of base coat in TG analysis, it was thought that cross linking density of base coat was larger than that of top coat. It was thought that the small exothermic reactions observed in DSC curves were due to the thermosetting resins contained in the coating agents. Compared to the non-coated specimen, the coated sample showed more higher polarization resistance and corrosion potential with lower corrosion current density.