Selective laser melting (SLM), a type of additive manufacturing (AM) technology, leads a global manufacturing trend by enabling the design of geometrically complex products with topology optimization for optimized performance. Using this method, three-dimensional (3D) computer-aided design (CAD) data components can be built up directly in a layer-by-layer fashion using a high-energy laser beam for the selective melting and rapid solidification of thin layers of metallic powders. Although there are considerable expectations that this novel process will overcome many traditional manufacturing process limits, some issues still exist in applying the SLM process to diverse metallic materials, particularly regarding the formation of porosity. This is a major processing-induced phenomenon, and frequently observed in almost all SLM-processed metallic components. In this study, we investigate the mechanical anisotropy of SLM-produced 316L stainless steel based on microstructural factors and highly-oriented porosity. Tensile tests are performed to investigate the microstructure and porosity effects on mechanical anisotropy in terms of both strength and ductility.