The purpose of the present study is to investigate the influence of thermal debinding and sintering conditions on the sintering behavior and mechanical properties of PIMed 316L stainless steel. The water atomized powders were mixed with multi-component wax-base binder system, injection molded into flat tensile specimens. Binder was removed by solvent immersion method followed by thermal debinding, which was carried out in air and hydrogen atmospheres. Sintering was done in hydrogen for 1 hour at temperatures ranging from 1000℃ to 1350℃ The weight loss, residual carbon and oxygen contents were monitored at each stage of debinding and sintering processes. Tensile properties of the sintered specimen varied depending on the densification and the characteristics of the grain boundaries, which includes the pore morphology and residual oxides at the boundaries. The sinter density, tensile strength (UTS), and elongation to fracture of the optimized specimen were 95%, 540 MPa, and 53%, respectively.