(Cr, Al)N films were deposited by pulsed bias arc ion plating on HSS and 316L stainless steel substrates. With pulsed substrate bias ranging from −100V to −500V, the effect of pulsed bias on film composition, phase structure, deposition rate and mechanical properties was investigated by EDX, XRD, SEM, nanoindentation and scratch measurements. The high-temperature (up to 900°C) oxidation resistance of the films was also evaluated. The results show that Al contents and deposition rates decrease with increasing pulsed bias and the ratio of (Cr+Al)/N is almost constant at 0.95. The as-deposited (Cr, Al)N films crystallize in the pseudo-binary (Cr, Al)N and Al phases. The film hardness increases with increasing bias and reaches the maximum 21.5GPa at −500V. The films deposited at −500V exhibit a high adhesion force, about 70N, and more interestingly good oxidation resistance when annealed in air at 900°C for 10h.