Bioactive coatings containing Ca and P with self-sealing structures were fabricated on the surface of pure magnesium using micro-arc oxidation technique (MAO) in a specific calcium hydroxide based electrolyte system. Coatings were prepared at three applied voltages, i.e. 360, 410 and 450 V, and the morphology, chemical composition, corrosion resistance and the degradation properties in Hank's solution of the MAO-coated samples with three different applied voltages were investigated. It was found that all the three coatings showed similar surface morphologies that the majority of micro-pores were filled with compound particles. Both the porous structures and the compound particles were found to contain consistent chemical compositions which were mainly composed of O, Mg, F, Ca and P. Electrochemical tests showed a significant increase in corrosion resistance for the three coatings, meanwhile the coating obtained at 450 V exhibited the superior corrosion resistance owing to the largest coating thickness. The long term immersion tests in Hank's solution also revealed an effective reduction in corrosion rate for the MAO coated samples, and the pH values of the coated samples always maintained a lower level. Besides, all the three coatings were subjected to a mild and uniform degradation, while the coating obtained at 360 V showed a relatively obvious degradation characteristic and appreciable Ca and P contents on the surfaces of the three coatings were observed after immersion in Hank's solution. The results of the present study confirmed that the MAO coatings containing bioactive Ca and P elements with self-sealing structures could significantly enhance the corrosion resistance of magnesium substrate in Hanks' solution with great potential for medical application.