This study characterizes the mechanical performance of the AlSi10Mg alloy produced by powder bed fusion-laser beam (PBF-LB) subjected to two combined cycles consisting of multilayer coating deposition (electroless nickel (Ni-P) + diamond-like carbon (DLC)) and heat treatment. In particular, the DLC deposition phase replaces the artificial aging step in the T5 and T6 heat treatments, obtaining the following post-production cycles: (i) Ni-P + DLC deposition and (ii) rapid solution (SHTR) (10 min at 510 °C) before Ni-P + DLC deposition. Microstructural characterization shows no appreciable modifications in the morphology and dimensions of the hard Si-rich phase of the eutectic network and secondary spheroidal Si phase. However, overaging phenomena induced by DLC coating deposition and differences in elastic-plastic properties between the multilayer coating and the PBF-LB AlSi10Mg substrate lead to a reduction in tensile strength by up to 31% and a significant decrease in ductility by up to 58%. In contrast, higher resistance to crack opening thanks to improved surface hardness and residual compressive stresses of the coating and reduced defect sensitivity of the substrate increase the fatigue resistance by 54% in T5-coated alloy and 24% in T6R-coated alloy. Moreover, the coating remains well adherent to the substrate during fatigue testing, not becoming a source of fatigue cracks.