In this study, self-organized nano-multilayer AlCrSi( O)N coatings with varying oxygen contents were fabricated via ion source-assisted arc ion plating (AIP). We systematically investigated their microstructure, mechanical properties, thermal stability, tribological behavior, and cutting performance. Our results show that the coatings are primarily composed of fcc-AlCrN and fcc-(Al,Cr) 2O 3 phases, with additional amorphous oxide phases. A distinct nano-multilayer structure with alternating N-rich and O-rich layers was formed in AlCrSi( O)N coatings due to the rotation of the substrate. The Al 0.21Cr 0.22Si 0.03O 0.15N 0.39 coating corresponding to the O 2/N 2 flow ratio of 291/9, demonstrated the maximum hardness value of 36.1 ± 0.98 GPa. The incorporation of oxygen and the formation of the self-organized nano-multilayer structure significantly suppressed the generation of the w-AlN phase and retarded the decomposition of Cr N bonds, thereby effectively enhancing the thermal stability and high-temperature mechanical properties of the coatings. Furthermore, tribology experiments and cutting tests revealed that the Al 0.21Cr 0.22Si 0.03O 0.15N 0.39 coating exhibited the lowest wear rate and the longest cutting life, demonstrating outstanding practical application potential for machining hard-to-machine materials.