Abstract: The TiAlSiN hard coatings preparing by arc ion plating has high hardness, good compactness, and excellent adhesion, which has a wide application market in the tool industry. Among the many characteristics of TiAlSiN hard coatings, the residual stress of the coating will affect the hardness, adhesion, and cutting life. This article investigates the effect of the magnetic field intensity of TiSi targets on internal stress of the coating. When the magnetic field of the TiSi targets is changed from MAG3 to MAG6, the magnetic field intensity is weakened, so the ionization fraction of the target is reduced, and the internal stress of the TiAlSiN coating is reduced from −5.84 GPa to −3.16 GPa. Otherwise, the adhesion and hardness of the coating do not decrease, and the cutting life is increased by 30%. The results indicate that adjusting magnetic intensity of TiSi target material can effectively adjust the internal stress of TiAlSiN coating and improve the cutting life.