Due to the low density of the green part produced by selective laser sintering (SLS), previous reports mainly improve the sample’s density through the infiltration of low-melting metals or using isostatic pressing technology. In this study, the feasibility of preparing high-density 316L stainless steel using 316L and epoxy resin E-12 as raw materials for SLS combined with debinding and sintering was investigated. The results indicated that in an argon atmosphere, high carbon and oxygen contents, along with the uneven distribution of oxygen, led to the formation of impurity phases such as metal oxides, including Cr2O3 and FeO, preventing the effective densification of the sintered samples. Hydrogen-sintered samples can achieve a high relative density exceeding 98% without losing their original design shape. This can be attributed to hydrogen’s strong reducibility (effectively reducing the carbon and oxygen contents in the samples, improving their distribution uniformity, and eliminating impurity phases) and hydrogen’s higher thermal conductivity (about 10 times that of argon, reducing temperature gradients in the sintered samples and promoting better sintering). The microstructure of the hydrogen-sintered samples consisted of equiaxed austenite and ferrite phases. The samples exhibited the highest values of tensile strength, yield strength, and elongation at 1440 °C, reaching 513.5 MPa, 187.4 MPa, and 76.1%, respectively.