The room temperature cyclic plastic deformation behavior of stainless steel 316L produced by laser powder bed fusion and heat treated to two microstructural conditions was investigated in strain-controlled incremental-step-test low-cycle fatigue experiments. The heat treatments were performed at 450 °C for 4 h and at 900 °C for 1 h. The lower temperature heat treatment retains the cell structure present in the as-built material. The higher temperature heat treatment leads to disappearance of the cell structure and a decreased proof strength. Both investigated heat treatment conditions exhibited cyclic softening. The ability of the cell structure to act as barrier against plastic deformation when cyclically strained is degraded, which is reflected in the dramatic reduction of the cyclic yield strength. The cyclic softening was less pronounced in the condition that led to the destabilization of the cell structure. Furthermore, the slip mode seems to change due to the presence of the cell structure. In the presence of the manufacturing-induced cell structure, the microstructural evidence points to a planar slip behavior. In contrast, after heat treatment at 900 °C for 1 h, microstructural investigations revealed a wavy slip behavior, which has been also reported for the conventionally manufactured 316L counterpart [1]. In this case, the formation of low-energy dislocation structures acts as softening agent.