Selective laser melted Titanium grade 23 was characterized by low porosity, relatively large surface roughness and pronounced surface texture (i.e. surface grooves orientation). The band/layer microstructure was built of mixed α and β phases. The as printed structure exhibited very high compressive residual stresses with strong anisotropy (i.e., − 512 ± 17 MPa and − 282 ± 14 MPa along the laser scanning direction and along the transverse direction, respectively) and strong fiber crystallographic texture. The latter one is responsible for the anisotropy of hardness in the material. Annealing at 600 °C during four hours significantly removed residual stresses (i.e. to − 14 ± 2.8 MPa) and slightly weakened the texture. Yield strength, 1120 ± 50 MPa, and ultimate tensile strength, 1210 ± 50 MPa, of the annealed material are significantly higher and tensile elongation, 3.9%, lower than for commercial Titanium grade 23. Final mechanical polishing to obtain flat and relatively smooth surface induced desired compression residual stress in the subsurface (i.e., equal to about − 90 MPa). Low absorbed gas contents (oxygen, nitrogen, hydrogen) and low porosity of the printed material indicates the correctness of the technology and allows the printed material to be classified as meeting the requirements of ASTM standards for Titanium grade 23. Besides traditional testing techniques, the optical profilometry, X-ray analysis (texture and residual stresses measurement) and infrared absorption method were applied for the product characterization and some potential of these testing methods and usefulness in technological practice was discussed, what can be particularly interesting both to practitioners from industry and researches from scientific laboratories.