A direct energy deposition (DED) process using wires is considered an additive manufacturing technology that can produce large components at an affordable cost. However, the high deposition rate of the DED process is usually accompanied by poor surface quality and inherent printing defects. These imperfections can have a detrimental effect on fatigue endurance and corrosion fatigue resistance. The aim of this study was to evaluate the critical effect of phase transition and printing defects on the corrosion fatigue behavior of 316L stainless steel produced by a wire laser additive manufacturing (WLAM) process. For comparison, a standard AISI 316L stainless steel with a regular austenitic microstructure was studied as a counterpart alloy. The structural assessment of printing defects was performed using a three-dimensional non-destructive method in the form of X-ray microtomography (CT) analysis. The microstructure was evaluated by optical and scanning electron microscopy, while general electrochemical characteristics and corrosion performance were assessed by cyclic potentiodynamic polarization (CCP) analysis and immersion tests. The fatigue endurance in air and in a simulated corrosive environment was examined using a rotating fatigue setup. The obtained results clearly demonstrate the inferior corrosion fatigue endurance of the 316L alloy produced by the WLAM process compared to its AISI counterpart alloy. This was mainly related to the drawbacks of WLAM alloys in terms of having a duplex microstructure (austenitic matrix and secondary delta-ferrite phase), reduced passivity, and a significantly increased amount of intralayer porosity that acts as a stress intensifier of fatigue cracking.