Based on polarization state conversion, a technique for coaxially coherent combination of laser beams is introduced. Laser beams can be coaxially coupled into one beam with high combination efficiency and perfect beam quality. A polarized laser beam combination system based on master oscillator power amplifier (MOPA) configuration is developed and the efficiencies of both unit combination and the whole system are investigated. In the experiment of combining four beams with single longitudinal mode, a combination efficiency of 85.3% is achieved. It can be further enhanced by improving the stability of experimental environment and the quality of optical and mechanical components.