The wide application of magnesium alloys as biodegradable implant materials is limited because of their fast degradation rate. Hydroxyapatite (HA) coating can reduce the degradation rate of Mg alloys and improve the biological activity of Mg alloys, and has the ability of bone induction and bone conduction. The preparation of HA coating on the surface of degradable Mg alloys can improve the existing problems, to a certain extent. This paper reviewed different preparation methods of HA coatings on biodegradable Mg alloys, and their effects on magnesium alloys’ degradation, biocompatibility, and osteogenic properties. However, no coating prepared can meet the above requirements. There was a lack of systematic research on the degradation of coating samples in vivo, and the osteogenic performance. Therefore, future research can focus on combining existing coating preparation technology and complementary advantages to develop new coating preparation techniques, to obtain more balanced coatings. Second, further study on the metabolic mechanism of HA-coated Mg alloys in vivo can help to predict its degradation behavior, and finally achieve controllable degradation, and further promote the study of the osteogenic effect of HA-coated Mg alloys in vivo.