To address the quality problems caused by high porosity in the preparation of dental cobalt-chrome alloy prosthetics based on selective laser melting (SLM) technology, we investigated the influence mechanism of different forming process parameters on the microstructure and properties of the materials. Moreover, the range of forming process parameters that can effectively reduce defects was precisely defined. The effects of laser power, scanning speed, and scanning distance on the pore properties, surface roughness, and hardness of dental cobalt-chrome alloy were investigated by adjusting the printing parameters in the process of SLM. Through metallographic analysis, image analysis, and molten pool simulation, the pore formation mechanism was revealed, and the relationship between the porosity and energy density of SLM dental cobalt-chrome alloy was elucidated. When the linear energy density was higher than 0.18 J/mm, the porosity defect easily appeared at the bottom of the molten pool. When the laser energy density was lower than 0.13 J/mm, defects occurred in the gap of the molten pool due to insufficient melting of powder. In particular, when the linear energy density exceeded the threshold of 0.30 J/mm or was below 0.12 J/mm, the porosity increased significantly to more than 1%. In addition, we observed a negative correlation between free surface roughness and energy density and an inverse relationship between macroscopic hardness and porosity. On the basis of the conditions of raw materials and molding equipment used in this study, the key process parameters of SLM of molding parts with porosity lower than 1% were successfully determined. Specifically, these key parameters included the line energy density, which ranged from 0.13 J/mm to 0.30 J/mm, and the scan spacing should be strictly controlled below 90 μm.