三氟化钴可以与许多金属或非金属单质反应生成相应的 氟化物，自身被还原为二氟化钴。三氟化钴也有 水合物，CoF3·3.5H2O，但结构尚不清楚。
Cobalt trifluoride can react with many metallic or non-metallic elements to form corresponding fluoride, which is reduced to cobalt difluoride. Cobalt trifluoride also has hydrate, CoF3.3.5H 2O, but its structure is not yet clear.
用三氟化钴氟化 有机化合物时，首先用二氟化钴与氟气在300°C左右反应生成三氟化钴，然后引入有机反应物与三氟化钴反应。三氟化钴被还原后生成的二氟化钴可以循环使用。
When cobalt trifluoride is used to fluorinate organic compounds, cobalt trifluoride is first synthesized by reaction of cobalt difluoride with fluorine gas at about 300 C, and then organic reactants are introduced to react with cobalt trifluoride. The cobalt difluoride produced by reduction of cobalt trifluoride can be recycled.