Ultrahard titanium and vanadium carbides (TiC-VC) particles are combined among ferrotitanium (Fe-Ti),ferrovanadium (Fe-V), graphite, rutile, etc. by means of high temperature arc metallurgic reaction in deposited metal. The microstructure, properties and wear mechanism of surfacing metal were systemically studied. The results show carbides particles are embedded in Fe matrix, Microstructure of which is lath martensite. The carbides mixed in the lath martensite provide a combination of good hardness and toughness. The residual austenite transforms to martensite, which is caused by the press stress, strengthens the matrix and releases the stress. The surface layers have high abrasive resistance and cracking resistance. The integration of dispersedly distributed carbides, lath martensite and residual austenite of the surface layer results in satisfactory wear resistance.