In this study, the crack‐growth approach is used to predict the fatigue life of 17‐4 precipitation hardening (PH) stainless steel (SS) fabricated via an additive manufacturing (AM) system in different orientations (ie, vertical and horizontal) before and after heat treatment. To perform fatigue‐life calculations, the effective stress intensity factor as a function of crack‐growth rate was obtained from testing modified compact specimens with different crack orientations in as‐built and heat‐treated conditions. The plasticity‐induced crack closure model, FASTRAN, was used to calculate fatigue lives based on the size of process‐induced defects. Results indicated that in the presence of large voids (ie, lack‐of‐fusion defects), the total fatigue life of AM 17‐4 PH SS in as‐built and heat‐treated conditions is dominated by crack growth. Effect of build orientation on fatigue life of AM 17‐4 PH SS was also captured based on the size of defects projected on a plane perpendicular to the loading direction.