Inconel 718 (IN718) is a nickel-based superalloy with high weldability and is thus ideal for being processed via laser powder bed fusion (LPBF). Unlike traditional casting, LPBF IN718 develops a complex microstructure due to the rapid solidification that characterizes this manufacturing process. As a result, LPBF microstructures are different from those expected in equilibrium conditions, and for this reason, specific heat treatments should be designed. This paper, using differential scanning calorimetry (DSC), thermal mechanical analysis (TMA), and a field emission scanning electron microscope (FESEM), aims to develop a complete heat treatment that maximizes the material strength, thereby enhancing its microstructure. The paper shows that high-temperature annealing followed by two aging steps is the most suitable way to achieve the abovementioned task. More specifically, a complete dissolution of the δ phase via solution annealing at 1080 °C is the key factor in gaining an even and intense precipitation of γ′ and γ″ during the subsequent aging treatments. The microstructural analyses showed the elimination of needle-like δ particles and detrimental Laves phases. At the same time, intense precipitation of spherical and of discoidal reinforcing particles was achieved by performing the aging treatments at 720 and 630 °C, respectively.