The feasibility of manufacturing high-performance components with complex structures is limited due to cracks in some superalloys fabricated by selective laser melting (SLM). By controlling the main process parameters such as scanning strategy, the adverse effects of cracks can be effectively reduced. In this paper, the effects of two different SLM scanning strategies with island and ‘back-and-forth’ and post-heat treatment on the cracks and mechanical properties of selective-laser-melted (SLMed) K438 alloy were investigated. The results show that the SLM method of the ‘back-and-forth’ scanning strategy had better lap and interlayer rotation angles and a more uniform distribution of laser energy compared with the island scanning strategy. The residual stress accumulation was reduced and crack formation was inhibited under this scanning strategy owing to the cooling and shrinkage process. In addition, the dislocation motion was hindered by the formation of uniformly dispersed MC carbides and γ’ phases during the SLM K438 alloy process, which resulted in the density of the as-built SLMed K438 alloy being up to 99.34%, the hardness up to 9.6 Gpa, and the tensile strength up to 1309 MPa. After post-heat treatment, the fine secondary γ’ phases were precipitated and dispersed uniformly in the Ni matrix, which effectively improved the Young’s modulus and tensile strength of the alloy by dispersing the stress-concentrated area.