This review comprehensively examines the recent advancements in laser powder bed fusion (LPBF) technology applied to Inconel 718, a superalloy widely sought-after for its exceptional high-temperature performance in demanding applications across aerospace, automotive, and energy sectors. The complex relationships among processing parameters, heat treatments, and microstructural characteristics are analyzed, exploring their influence on crucial properties like strength, creep resistance, fatigue behavior, and oxidation resistance. Particular attention is given to the role of strengthening phases such as δ, γ′ (gamma prime), and γ″ (gamma double prime), which significantly impact LPBF-produced Inconel 718’s mechanical behavior. Optimizing LPBF parameters and customizing the heat treatments proven highly effective to significantly enhance the microstructure and properties of LPBF-produced Inconel 718, potentially exceeding those of traditionally manufactured counterparts. However, a significant knowledge gap exists regarding the combined effects of creep and fatigue at elevated temperatures, posing a major challenge to predicting its performance in real-world applications. To address this challenge, further research is necessary in the areas of creep-fatigue interaction under varied loading conditions, the exploration of synergistic multi-scale treatment strategies, and the evaluation of deep cryogenic treatment’s potential benefits. By systematically investigating these areas, the full potential of LPBF-produced Inconel 718 can be unlocked, revolutionizing its impact on high-temperature technologies in diverse industries.