In this work, 316L-IN625 gradient material with the gradient change in the material composition was prepared by LD. The results show that with the reduction of 316L composition, the microstructures of different regions of the gradient material displayed cellular dendrites, columnar grains, coarse dendrites, and nearly equiaxed grains in sequence. Compared with the joint sample, the 0.2% yield strength of the 316L-IN625 gradient sample increased to 289 MPa. However, the tensile strength and the ductility reduced due to the presence of high thermal stress and brittle precipitates. In addition, the tensile deformation mechanisms of joint and gradient samples are ductile cavities and brittle dissociation, respectively. The microhardness of the 316L-IN625 gradient material gradually increases along the deposition building direction, which is related to the solid solution and the precipitation strengthening of IN625.