This paper presents the influence of plasma electrolytic oxidation parameters (peak current density, process time, pulse frequency) on the tribological properties and surface wettability of the produced coatings. The process parameters were selected in accordance with Hartley’s research plan for three input variables with three variable values. Oxide coatings were made on the AZ31B magnesium alloy using a trapezoidal voltage waveform and a two-component alkaline electrolyte. The tribological properties of the coatings were determined as a result of tribological tests carried out on the T-17 tester in reciprocating motion. The tribological partner for the coatings was a PEEK/HPV pin. As a result of tribological tests, the friction coefficient µ, the mass wear of the pin and the average change in sample mass were determined. The tests showed changes in both the friction coefficient and pin wear. Before and after tribological tests, profilographometric measurements of the coatings were performed. The tests allowed for the determination of roughness parameters and the load–bearing curve of the sample surfaces. Surface wettability tests were carried out by determining the contact angles.