β-solidifying TiAl alloys are considered as promising candidate materials for high-temperature structural applications. Laser-based additive manufacturing (LAM) enables the fabrication of components with geometrical complexity in near-net shape, leading to time and feedstock savings. In this study, a gas-atomized Ti-44Al-4Nb-1Mo-1Cr powder is used as a feedstock material for LAM. However, the LAM of TiAl alloys remains a challenge due to serious cracking during the printing process. To minimize the cracking, the optimization of the LAM processing parameters is essential. Hence, the effects of the LAM processing parameters on the cracking susceptibility and microstructure are studied here. Our experimental results show that the cracking susceptibility can be mitigated by increasing the laser power. Accordingly, the microstructure transforms from the dominating α2 grains to a near-lamellar microstructure with an increment in laser power, leading to a reduction in microhardness, even though it is still higher than that of its as-cast counterparts. It is concluded that changes in the laser power can directly tailor the microstructure, phase composition and microhardness of LAM-fabricated TiAl alloys.