Titanium ions with different energies and doses were implanted into the M50 steel surface. In addition, titanium and nitrogen ion co-implantation was applied for comparison. The tribological properties and wear resistance of the implanted samples were characterized using a sliding friction tester, grazing incidence angle X-ray diffraction, X-ray photoelectron spectroscopy, scanning electron microscopy, surface profiler, Raman spectrometer, and nanoindentation tests. The results indicated that the compounds of the titanium ion-implanted samples mainly consisted of titanium and TiO2, CrN interstitial compounds formed after titanium and nitrogen ion co-implantation, thus generating an implantation layer that exhibited high nano-hardness and low wear rates. The linear contact sliding friction coefficient curves for the implantation samples were composed of an initial stage, ascent stage, and stable stage. The tribological properties effectively improved with increasing titanium ion implantation energies and doses. In addition, this beneficial effect became much more significant at a higher titanium ion dose. The titanium and nitrogen ion-co-implanted samples formed Fe2O3 and Fe3O4 tribo-oxide layers after the wear test, which were partially responsible for reducing the wear. The dominant wear mechanisms of the implanted samples were abrasive wear and oxidative wear.