The cold-spray technique is of significant interest to deposit refractory metals with relatively high melting point for a variety of demanding applications. In the present study, mechanical properties of cold-sprayed tantalum coatings heat treated at different temperatures were investigated using microtensile testing, scratch testing, and nanoindentation. The corrosion performance of heat-treated coatings was also evaluated in 1 M KOH solution, and potentiodynamic polarization as well as impedance spectroscopy studies were carried out. Assessment of structure–property correlations was attempted based on microstructure, porosity, and intersplat bonding state, together with mechanical and corrosion properties of the heat-treated cold-sprayed tantalum coatings. Coatings annealed at 1500 °C, which is very close to the recrystallization temperature of tantalum, were found to perform almost as bulk tantalum, with exciting implications for various applications.