In this work, the effect of processing parameters on the resulting microstructure and mechanical properties of magnesium alloy WE43 processed via Additive Friction Stir Deposition (AFSD), a nascent solid-state additive manufacturing (AM) process, is investigated. In particular, a parameterization study was carried out, using multiple four-layer deposits, to identify a suitable process window for a structural 68-layers bulk WE43 deposition. The parametric study identified an acceptable set of parameters with minimal surface defects and excellent consolidation for the fabrication of a bulk WE43 deposition. Microstructural, tensile, and fatigue life characterization was conducted on the bulk WE43 deposition and compared to commercially available wrought material to elucidate the process-structure-property-performance (PSPP) relationship of the AFSD process. This study shows that the bulk WE43 deposit exhibited a refined homogenous microstructure and a texture shift relative to the wrought material. However, a reduction in hardness and tensile behavior was observed in the as-deposited WE43 compared to the wrought control. Additionally, fatigue specimens extracted from the bulk deposition exhibited a decrease in life in the low-cycle regime but performed comparably to the wrought plate in the high-cycle regime. The outcomes of this study illustrate the potential of the AFSD process in additively manufactured structural load-bearing components made with magnesium alloy WE43 in the as-built condition.