In this study, the processing parameters of a laser powder bed fusion (LPBF)-fabricated CoCrNi alloy were systematically investigated for their impact on mechanical properties, microstructure, and fracture characteristics when the relative density exceeds 99%. The maximum relative density of 99.89% was attained at a laser power of 225 W, and scan speed of 1000 mm/s, accompanied by a hardness value of 276.83 HV. However, it is important to note that the highest relative density did not correspond to the maximum σUTS. Tensile testing revealed that increasing the laser power at the same scan speeds led to a decrease in elongation. The LPBF-fabricated CoCrNi alloy exhibited enhanced defect tolerance due to its cellular microstructure, which confined ductile dimple sizes to the nanoscale and impeded crack propagation through pinning effects. At scan speeds of 1000 mm/s and energy densities below 83 J/mm³, an increased presence of unmelted powder and pores was observed. Besides, it was confirmed that the <110> crystallographic texture displayed the strongest orientation within the sample. Theoretical calculations indicated that over 50% of the yield strength is attributed to the dislocation structure. These findings contribute to the process optimization of LPBF, providing a valuable reference for adjusting process parameters to enhance material mechanical properties, particularly when targeting relative densities above 99%.