Stress corrosion cracking behaviors of one-directionally cold rolled 316L stainless steel specimens in T–L and L–T orientations were investigated in hydrogenated and deaerated PWR primary water environments at 310 °C. Transgranular cracking was observed during the in situ pre-cracking procedure and the crack growth rate was almost not affected by the specimen orientation. Locally intergranular stress corrosion cracks were found on the fracture surfaces of specimens in the hydrogenated PWR water. Extensive intergranular stress corrosion cracks were found on the fracture surfaces of specimens in deaerated PWR water. More extensive cracks were found in specimen T–L orientation with a higher crack growth rate than that in the specimen L–T orientation with a lower crack growth rate. Crack branching phenomenon found in specimen L–T orientation in deaerated PWR water was synergistically affected by the applied stress direction as well as the preferential oxidation path along the elongated grain boundaries, and the latter was dominant.