A novel aluminizing process based upon room temperature Al-electrodeposition from Ionic Liquids followed by diffusion heat treatment was applied on bare- and CoNiCrAlY-coated Inconel 738 (IN738). The aluminized samples were tested by isothermal oxidation at 1000 °C in air. The microstructural and chemical evolution of the samples were determined as function of oxidation time and compared with the currently applied coatings obtained via pack cementation. The newly proposed method is suitable for the CoNiCrAlY coating, but not for the bare IN738. In the latter, the formed Al-enriched layer is much thinner and the anticorrosion properties resulted in being reduced. This is probably due to the presence of precipitates, which slow down the aluminum inward diffusion impairing the formation of a well-developed interdiffusion zone (IDZ). Traces of the electrolyte, embedded during the Al-electrodeposition process, can be seen as the origin of these precipitates.