The invention discloses a self-healing coating as well as a preparation method and application thereof. The self-healing coating comprises a metal ceramic coating doped with soft metal and a metal coating, wherein the metal ceramic coating doped with the soft metal and the metal coating are alternately laminated in a thickness direction; a material of the metal ceramic coating doped with the softmetal is prepared from Mel-X-C/N-Me2, wherein Me1 is a transition metal element; X is prepared from Al, Si or B, and Me2 is a soft metal element. The preparation method of the coating comprises a stepof alternately depositing the metal ceramic coating doped with the soft metal and the metal coating on a substrate by adopting a physical vapor deposition technology and/or chemical vapor depositiontechnology so as to form the self-healing coating. The self-healing coating disclosed by the invention has a good micro-crack self-repairing function; by utilizing the ultrahigh diffusion ability of metal such as Ag, the micro-crack self-healing performance of the coating is realized, a self-repairing function can be provided for a conventional hard coating, and the service life and the reliability of a hard nitride abrasion-resistant coating in a high-temperature environment can be obviously improved.