The blend (wax M) of crude by-product polyolefin wax (wax K) and a fractionated commercial paraffin wax (wax J) was suggested to replace the wax J as a coating agent for wax-coated papers. The rheological properties of waxes J, K, and M were examined and compared. The correlation between viscosity and shear rate applied on these waxes maintained at 90 °C and 130 °C was identified. In particular, this paper, for the first time, presented non-Newtonian shear thinning behavior of not only wax K but also its blend of wax M in terms of their viscosity affected by shear rate at an operating temperature below their melting temperature of higher-melting-temperature DSC endothermic peaks (HMTEPs). They showed non-Newtonian behavior, so-called shear thinning behavior, at 90 °C in the light of characteristics of both suspension systems and polymer systems. In addition, the profiles of viscosity at 130 °C of all the waxes versus the shear rate exhibited Newtonian fluid behavior. Wax J also showed the behavior of a dilatant fluid. Then, the physical properties including water vapor transmission rates (WVTR), surface roughness, and coated weights, of thin papers coated with waxes J (WJP), K (WKP), and M (WMP) were evaluated, characterized, and compared. As a result, WMP had an equivalent value to that of WJP or the lowest value among wax-coated papers in terms of WVTR. The surface roughness and the barrier property of WVTR were minimized and enhanced, respectively, by blending waxes J and K. The additional physical properties, including dynamic contact angles, surface tension, wet and dry tensile strength, optical examination of the wax-coated fiber structure, and antimicrobial properties of the wax-coated papers, were evaluated. The excellent antimicrobial properties of clinoptilolite added to wax J or wax M appeared.