Steel surface protection with hard coatings is essential in the metalworking industry, yet developing high-performance hard coatings still remains a challenge. Quaternary nitride coatings, particularly TiAlSiN, have been extensively studied, but commercial TiAlSiN coatings vary widely, and there is a lack of consistent data. This study presents findings on the development and evaluation of TiAlSiN and TiAlSiN/TiN thin films, with an 800 nm thick TiAlSiN top coating and a 100 nm thick TiN mid-coating. The films were deposited on C120 tool steel discs via reactive DC magnetron sputtering. Ti and TiAlSi 75–20–5 (at.%) disc-shaped targets (50.8 mm diameter × 6.3 mm thickness), fabricated by our team through spark plasma sintering, were used for the sputtering process. Coatings were grown on smooth steel substrates heated to 300 °C, resulting in a uniform micro-structure with nanoparticles of globular (TiN) or pyramidal shape (TiAlSiN), as evidenced by SEM analysis. Nanoindentation tests showed superior mechanical properties for all coatings compared to the steel substrate. Micro-scratch tests indicated better scratch resistance for TiAlSiN/TiN bilayer (BL) coatings than for TiAlSiN single-layer (SL) coatings. Electrochemical impedance spectroscopy tests in a 3.5 wt.% NaCl solution revealed that the BL coatings demonstrated superior corrosion resistance compared to the SL coatings, even after thermal aging at 800 °C for 1 hour. The superior properties of the synthesized TiAlSiN/TiN films recommend them as protective coatings for tool steel surfaces.