The effect of prealuminizing (or prior) diffusion treatment on the evolution of Pt-aluminide coatings on the Ni-based superalloy CM-247 has been studied by using a single-step, high-activity aluminizing process. Coatings generated without any prior diffusion treatment, as well as those formed by adopting two extreme prior-diffusion schedules (at 850 °C for 0.5 hours and at 1034 °C for 5 hours), were investigated by analyzing the coating structures at various stages of aluminizing. When the dilution of the Pt layer, caused by its interdiffusion with the substrate during the prior diffusion treatment, is only marginal (as in the case of no prior diffusion and diffusion at 850 °C for 0.5 hours), the equilibrium Pt-aluminide coating structure evolves through the formation of two transient layers during the initial stages of aluminizing. In contrast, for diffusion at 1034 °C for 5 hours, which results in extensive dilution of the Pt layer, the two-phase equilibrium structure (PtAl2 in a matrix of NiAl) in the outer layer of the coating is found to develop during very early stages of aluminizing and remains unchanged, even over extended periods of aluminizing. Further, in the case of prior diffusion at 1034 °C for 5 hours, Pt is found to remain distributed to a greater extent over the entire thickness of the coating than in the cases of limited prior diffusion treatment. The present findings underline the significance of the nature of the prior-diffusion schedule on the microstructural evolution of Pt-aluminide coatings. It has also been found that a prealuminizing diffusion treatment is particularly important for Pt-aluminide coatings from the point of view of coating adhesion to the substrate.