This paper presents the results of a study on a new coating method for alloy steel. The coatings were synthesized on the surface of H21 die steel through a combination of thermal-chemical treatment (TCT) and electron beam processing (EBP). A paste containing boron and aluminum was applied to the test samples which were then heated to accelerate the diffusion process. After 2 h at 950 °C, the diffusion layers were found to be 120 μm thick, and after 2 h at 1050 °C, they were 580 μm thick. The subsequent EBP led to a complete transformation of the primary diffusion layer and an increase in thickness to 1.6 mm. XRD analysis showed significant differences in composition before and after EBP and the presence of tungsten and iron borides. It was also found that the distribution of microhardness and composition over the layer thickness had a more favorable profile after EBP.