In order to explore the effect of different energy densities on microstructure and mechanical properties of selective laser melting (SLM) formed ZGH401, ZGH401 was prepared under different laser power and scanning speeds by orthogonal test method by SLM. The microstructure of ZGH401 was analyzed by SEM, EBSD and EPMA. The results showed that the defects of the as-built ZGH401 were gradually reduced, and the relative density was gradually increased with the continuous increase of the energy density, and the final density can reach 99.6%. As the laser power increases, so did the hardness of ZGH401, and a quicker scanning speed reduced the remaining stress on the as-built ZGH401. In addition, better tensile properties at room temperature due to more grain boundaries parallel to the build direction than perpendicular direction. The precipitated phase was identified as carbides and Laves phases by its chemical composition, and the carbides at the molten pool boundaries were less than those in the melt pools.