In the experiment, 316L stainless steel component was manufactured by fiber laser-arc hybrid additive manufacturing. The influence of welding current on the stability of laser-arc hybrid additive manufacturing process was studied by high-speed camera, and the process parameters with the highest welding stability were selected for the stacking experiment. Experimental results show that when the current is 210 A and the laser power is 1 500 W, the welding stability is the best, and the porosity is the key factor affecting the mechanical properties of the sample. The tensile strength and elongation of the multilayer stacking sample prepared are 569.9 MPa and 16.8%, respectively.