A component is fabricated with Fe314 alloy powders on the substrate of 45# steels. The interlaminar distributing structures,the microstructure in different regions and mechanical properties of components are investigated. It is indicated that forming layers are stacked up like ladder shapes in aspect of microstructures which are mainly constituted of tiny compact equiaxed grains with distribution of some flat grains and columnar grains on the substrate. Furthermore,the hardness of components is low accompanied with high plasticity and ductility in aspect of mechanical properties because of the composing phases of austenite. There is no appearance of cracks under 690 MPa maximum residual stress,which has shown a high crack resistance is obtained through laser rapid forming (LRF) with Fe314 alloy powders.