Powder metallurgy (PM) has been widely used to produce various steels in industry, mainly due to its capabilities for manufacturing nearly net-shaped products and mass production. To improve the performances of PM stainless steels, the roles of 0.6 wt% B additive in the microstructures, mechanical properties, and corrosion resistances of PM 304L austenitic, 410L ferritic, and 410 martensitic stainless steels were investigated. The results showed that adding 0.6 wt% B significantly improved the sintered densities of the three kinds of stainless steels due to the liquid phase sintering (LPS) phenomenon. The borides in 304L + 0.6B, 410L + 0.6B, and 410 + 0.6B were rich in B and Cr atoms but deficient in Fe, Ni, or C atoms, as analyzed by electron probe micro-analysis. Furthermore, the B additive contributed to the improved apparent hardness and corrosion resistance of PM stainless steels. In the 410L stainless steel, the 0.6 wt% B addition increased the corrosion voltage from −0.43 VSCE to −0.24 VSCE and reduced the corrosion current density from 2.27 × 10−6 A/cm2 to 1.93 × 10−7 A/cm2. The effects of several factors, namely: porosity; the generation of boride; the matrix/boride interfacial areas; Cr depletion; and the microstructure on the corrosion performances are discussed. The findings clearly indicate that porosity plays a predominant role in the corrosion resistances of PM austenitic, ferritic, and martensitic stainless steels.