A dual action antifungal nail coat composition and method of use for ameliorating or preventing fungal infection of the nails, and onychomycosis, in particular, is disclosed. Composition embodiments in the form of one-coat type and two-coat type suitable for daily fungicidal regimens are disclosed. A preferred antifungal nail coat composition comprises an effective fungicidal amount of antifungal agent, a permeation enhancing amount of a substantially non-volatile, permeation enhancer, a film-forming amount of a hydrophilic polymer, and a pharmaceutically acceptable, volatile carrier. The composition provides a substantially water-soluble fungicidal coating on contacting a fungally susceptible or infected nail.