High-entropy materials (HEM), including alloys, ceramics, and composites, are a novel class of materials that have gained enormous attention over the past two decades. These multi-component novel materials with unique structures always have exceptionally good mechanical properties and phase stability at all temperatures. Of particular interest for high-temperature applications, e.g., in the aerospace and nuclear sectors, is the new concept of high-entropy coatings (HEC) on low-cost metallic substrates, which has just emerged during the last few years. This exciting new virgin field awaits exploration by materials scientists and surface engineers who are often equipped with high-performance computational modelling tools, high-throughput coating deposition technologies and advanced materials testing/characterisation methods, all of which have greatly shortened the development cycle of a new coating from years to months/days. This review article reflects on research progress in the development and application of HEC focusing on high-temperature applications in the context of materials/composition type, coating process selection and desired functional properties. The importance of alloying addition is highlighted, resulting in suppressing oxidation as well as improving corrosion and diffusion resistance in a variety of coating types deposited via common deposition processes. This review provides an overview of this hot topic, highlighting the research challenges, identifying gaps, and suggesting future research activity for high temperature applications.