The degree of WC decomposition and hardness of thermally sprayed WC-Co coatings are important factors determining the wear resistance of the coatings. In order to minimize the degree of decomposition and to increase hardness, the effects of processing parameters of high velocity oxyfuel(HVOF) spraying on various characteristics of nanostructured WC-12Co coating have been evaluated by an experimental design method. The HVOF sprayed WC-12Co coatings consisted of various carbide phases including WC, $W_2C$ and $W_3Co_3C$, with a much reduced carbon content. The degree of WC decomposition and decarburization was affected by changing barrel length and spray distance. The hardness of WC-Co coatings was strongly related to droplet temperature at substrate, and increased with increasing fuel addition and/or decreasing spray distance. The effective control of processing parameters was discussed in detail for manufacturing a high performance WC-Co coating.