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Additive manufacturing (AM) of Ni-based super alloys is more challenging, compared to the production other metallic alloys. This is due to their high melting point and excellent high temperature resistance. In the present work, an Inconel 718 alloy was fabricated by a powder laser bed fusion (P-LBF) process and investigated to assess its microstructural evolution, together with mechanical properties. Additionally, the alloy was compared against the cast (and forged) alloy of similar composition. The microstructure of the P-LBF-processed alloy shows hierarchy microstructure that consists of cellular sub-structure (~100–600 nm), together with melt pool and grain boundaries, in contrast of the twin infested larger grain microstructure of the cast alloy. However, the effect of such unique microstructure on mechanical properties of the L-PBF alloy was overwritten, due to the absence of precipitates. The hardness of the L-PBF-processed alloy (330–349 MPa) was lower than that of cast alloy (408 MPa). The similar trend was also observed in other mechanical properties, such as Young’s modulus, resistance to plasticity and shear stress.