The microstructure of cross sections (i.e. X-Y and X-Z), which are perpendicular to and parallel to the rolling or build-up directions for the hot rolled or selective laser melting (SLM) built 316L stainless steel blocks, respectively, was characterized by means of optical microscopy (OM), X-ray diffraction (XRD), and electron backscatter diffraction (EBSD). Results show that the 316L stainless steel prepared by the two methods mainly consists of austenitic phases. In comparison to the rolled 316L stainless steel, the SLM built 316L stainless steel has much more low angle grain boundaries and sub-grain boundaries, as well as higher dislocation density. It could be observed that the SLM-316L stainless steel shows a preferred texture parallel to (110) direction in X-Y plane and (001) direction in X-Z plane. The deviation of grain orientation from the (001) direction on the X-Y plane may be related to the complex heat flow during the laser remelting process. Texture is available in the (001) direction in the X-Z plane, and the texture index is the largest at (001), which is related that the crystals grow parallel to the build-up direction. Moreover, the heat dissipation is the heat fastest along the (001) direction during the SLM process; therefore, grains grow preferentially along (001) in shape of strips.