The TC11 titanium alloys are formed by the laser melting deposition technique and the effect of interlayer residence time on their microstructures and mechanical properties is investigated. The results show that the macrostructures of as-deposited samples change from equiaxed grains to columnar ones with the increase of interlayer residence time. For different interlayer residence time, there always exist extremely fine α+β basket-weave structures within the as-deposited samples, and as a result, the mechanical properties of these samples possess the characteristics of high strength and low plasticity. With the increase of interlayer residence time, the macroscopic layer band phenomenon becomes more and more clear, and simultaneously the anisotropy of mechanical properties at room temperature becomes more and more remarkable, which results from the coarsening of local microstructure, the increase of α phase proportion, and further regularity inhomogeneity of basket-weave microstructures in the deposition direction caused by surface remelting redeposition and annealing effects of current deposition layers.