This study endeavors to enhance the mechanical, tribological, and corrosion resistance attributes of 316L stainless steel fabricated by powder bed fusion process. A comprehensive understanding of the material’s performance is achieved by investigating the impact of different scanning patterns and energy densities on tensile strength, compressive strength, hardness, porosity, roughness, and tribological behavior. Three distinct scanning patterns—line scanning, spiral scanning, and chessboard-type scanning—were examined, alongside a range of energy densities spanning from 30 to 95 J/mm3. Results indicated that a notable improvement in tensile strength, with enhancements of 20.9, 22.6, and 31.1% observed for line, spiral, and chessboard-type scanning patterns, respectively, as the energy density of the laser increased from 30 to 95 J/mm3. Remarkably, the chessboard-type pattern at 95 J/mm3 yielded the highest tensile strength recorded at 736 MPa, surpassing commercially available 316L material by 41%. Moreover, the compressive strength experienced a slight increase of 1.3% (695 to 704 MPa), while hardness values exhibited a substantial 21% rise (228 to 275 HV) when utilizing the chessboard-type scanning pattern at 95 J/mm3. Additionally, the lowest coefficient of friction, at 0.39, was observed in specimens manufactured with the chessboard-type pattern and at the highest energy density of 95 J/mm3, indicating superior tribological performance. The corrosion rate decreases with increase in energy density (E) due to reduced porosity and improved bonding in the material, enhancing corrosion resistance. The chessboard scanning pattern showed the best performance, making it ideal for manufacturing 316L orthopedic implants.