Three kinds of MCrAlY coatings with different aluminum contents (5%, 8%, 12%) were prepared by electrospark deposition (ESD), their microstructure and oxidation behavior were studied by SEM and XRD. The results showed that the phase composition of the coatings changed from single γ-Ni to γ-Ni+β-NiAl hypoeutectic to γ-Ni+β-NiAl hypereutectic with increasing aluminum content, and their solidification morphologies changed from cluster of cellular structure to cellular dendrites to coarse dendrites with secondary arms. When exposed at 1000 ℃, the coatings with higher Al content had a stronger tendency to form θ-Al2O3 in the initial several hours. After 100 h of oxidation, a dense and adherent α-Al2O3 scale formed on all of the three coatings but the thickness of α-Al2O3 scale and the amount of remaining θ-Al2O3 increased with increasing Al content. These results revealed different characteristics of ESD MCrAlY coatings which could provide scientific guidance for industrial application.