This review paper highlights the hybrid manufacturing processes which integrate the additive and subtractive processes performing on one hybrid platform consisting of the LMD (laser metal deposition) unit and multi-axis CNC machining center. This hybrid technology is rapidly developed and has many applications in Production/Manufacturing 4.0 including the LRT (laser repair technology). In particular, some important rules and advantages as well as technological potentials of the integration of a powder metal deposition and finishing CNC milling/turning operations are discussed and overviewed. Some representative examples such as formation of difficult features around the part periphery, deposition of functional layers and coatings and repair of high-value parts in aerospace industry are provided. Moreover, the technological strategies, CAD/CAM and CAI programs and construction designs of the hybrid manufacturing platforms are explained. Some conclusions and future trends in the implementation of hybrid processes are outlined.