In this study, an attempt is made to control the WC-Co two-phase microstructures by laser powder-bed fusion (LPBF) process using cemented carbide powders with different compositions of WC-25Co (mass%) and WC-17Co (mass%) and post heat-treatment at 1380 °C. The as-built cemented carbide samples had different microstructures from those of the cemented carbides fabricated by conventional manufacturing methods. The microstructures of the as-fabricated WC-25Co and WC-17Co cemented carbides were characterized by two types of regions. Region 1 consisted of W2C and W3Co3C phases, including numerous pores and defects. Region 2 consisted of WC and Co phases. Post heat-treatment of the LPBF-built WC-25Co sample at 1380 °C led to the formation of a defect-free WC-Co two-phase microstructure. In contrast, the W3Co3C phase remained in the LPBF-built WC-17Co sample even after heat treatment. The addition of carbon to the WC-17Co powder prevented the formation of the W3Co3C phase in the cemented carbide processed by LPBF and subsequent heat treatments. The addition of carbon to the WC-17Co powder had a slight effect on the hardness of as-fabricated samples, but reduced the hardness of heat-treated samples. The reduced hardness was attributed to the increased volume fractions of the WC and W3Co3C phases.