The present study investigated the effects of different heat treatments on the microstructure and mechanical properties of Inconel 718 alloy fabricated by electron beam freeform fabrication. The Laves phases, γʹ phases, and (Nb,Ti)C particles were precipitated in the as-deposited specimen. Solution at 960 °C promoted the partial dissolution of Laves phases and the precipitation of δ phases. Further increasing the solution temperature to 1060 °C dissolved the Laves phases effectively, facilitating the adequate precipitation and uniform distribution of γʹ and γʹʹ phases during the subsequent double aging heat treatment. The ultimate tensile strength (UTS) and elongation of the as-deposited specimen were 770 MPa and 12.2 % respectively. The solution heat treatment at 1060 °C increased the elongation to 38.1 % but decreased the UTS to 734 MPa. The microhardness and UTS of specimens that underwent double aging heat treatment were significantly increased, with the maximum average microhardness and UTS reaching 491 HV0.5 and 1285 MPa, respectively. The undissolved Laves phases and the precipitated δ phases at grain boundaries impaired the ductility. The transformation from single solution or double aging heat treatment to solution plus double aging heat treatment led to a shift from a ductile fracture mode to a mixed ductile and brittle fracture mode.