Metal additive manufacturing (AM) has unlocked unique opportunities for making complex Ni-based superalloy parts with reduced material waste, development costs, and production lead times. Considering the available AM methods, powder bed fusion (PBF) processes, using either laser or electron beams as high energy sources, have the potential to print complex geometries with a high level of microstructural control. PBF is highly suited for the development of next generation components for the defense, aerospace, and automotive industries. A better understanding of the as-built microstructure evolution during PBF of Ni-based superalloys is important to both industry and academia because of its impacts on mechanical, corrosion, and other technological properties, and, because it determines post-processing heat treatment requirements. The primary focus of this review is to outline the individual phase formations and morphologies in Ni-based superalloys, and their correlation to PBF printing parameters. Given the hierarchal nature of the microstructures formed during PBF, detailed descriptions of the evolution of each microstructural constituent are required to enable microstructure control. Ni-based superalloys microstructures commonly include γ, γ′, γ′′, $$\delta$$
δ
, TCP, carbides, nitrides, oxides, and borides, dependent on their composition. A thorough characterization of these phases remains challenging due to the multi-scale microstructural hierarchy alongside with experimental challenges related to imaging secondary phases that are often nanoscale and (semi)-coherent. Hence, a detailed discussion of advanced characterization techniques is the second focus of this review, to enable a more complete understanding of the microstructural evolution in Ni-based superalloys printed using PBF. This is with an expressed goal of directing the research community toward the tools necessary for a thorough investigation of the processing-microstructure-property relationships in PBF Ni-based superalloy parts to enable microstructural engineering.