To address the lack of understanding regarding the synergistic reinforcement mechanism and interactive effects between Mo and WC particles within WC/FeCoNiCrMo high-entropy alloy (HEA) cladding layers, two types of laser cladding layers with a composition of 15 wt.% WC and 85 wt.% FeCoNiCrMox (x = 0.2, 0.5) were fabricated on 4Cr5MoSiV1 tool steel substrates. A comprehensive comparative study was conducted focusing on the macrostructure, micro texture, phase evolution, mechanical property, and corrosion-related performance of the layers. Furthermore, the effect of varying Mo levels on the co-regulation mechanism between Mo and WC during the microstructural evolution and performance optimization of the HEA cladding layers was systematically analyzed. The results reveal that both HEA layers exhibit dense metallurgical bonding with the substrate, free of flaws like pores or cracks. Increasing the Mo molar ratio from 0.2 to 0.5 leads to a significant phase transformation within the cladding layer, evolving from an FCC matrix with WC, W2C, and Cr7C3 phases to the additional formation of σ and Co4W2C phases. This indicates that higher Mo content promotes σ phase precipitation, intensifies WC decomposition, and facilitates Co4W2C formation. Moreover, elevated Mo content enhances the nucleation of WC, leads to a smaller and more homogeneous grain structure within the 15%WC + 85%FeCoNiCrMo0.5 layer, which achieves an average microhardness of 414.3 HV0.2, an increase of 18.1% compared to the Mo0.2 layer. Benefiting from the combined benefits of solid solution hardening, grain refinement, and secondary phase strengthening contributed by Mo and WC, the 15%WC + 85%FeCoNiCrMo0.5 layer demonstrates the lowest wear loss and friction coefficient, with a wear rate as small as 6.85 × 10–4 mm3/(N·mm), reflecting superior wear resistance. Electrochemical tests further confirmed that the 15%WC + 85%FeCoNiCrMo0.5 coating exhibited the smallest corrosion current, higher corrosion potential and the largest impedance modulus (|Z|), indicating optimal corrosion resistance. This work elucidates the co-interaction mechanisms driven by the molar ratio differences of WC and Mo, providing theoretical guidance and method basis for the surface performance enhancement of HEA-based cladding systems.