Proper mechanical properties are essential for the clinical application of magnesium-based implants. In the present work, a novel multilayer model composed of three layers with desirable features was developed. The modulus of the multilayer model can be adjusted by changing the thickness of each layer. To combine three layers and improve the corrosion resistance of the whole multilayer model, the polycaprolactone coating was employed. In the immersion test, pH values, the concentration of released magnesium ions, and weight loss indicate that the corrosion rate of multilayer models is considerable lower than that of the one-layer bare substrate. The three-point bending test, which is used to examine models' mechanical properties, shows that the flexural modulus of multilayer models is reduced effectively. In addition, the mechanical degradation of multilayer models is more stable, compared to the one-layer substrate.