With pulsed Nd:YAG laser, ZK60 magnesium alloy is treated by laser shock peening (LSP). Influences of laser energy density, single-/double-sided LSP treatment, presence or absence of protective coating, and other process parameters on the mechanical property of ZK60 magnesium alloy are analyzed. Meanwhile, the wear resistance property of ZK60 magnesium alloy before or after LSP is tested. The experimental results show that LSP can improve the mechanical and wear resistance properties of ZK60 magnesium alloy, the reinforcing effect for high power density is better than that for low power density, there is no obvious difference between the single-sided and double-sided LSP treatments, and with the presence of protective coating, the honeycomb ablation layer occurring on the material surface can be avoided.