Laser engineered net shaping is a promising technique to fabricate high-performance components with complex geometry rapidly. Excelent properties of fabricated specimen and high deposition efficiency are both im-portant for this additive manufacturing method, but few researches have been done on the relationship between them. In this paper, single-bead multilayer structures of 316L stainless steel are fabricated by laser engineered net shaping (LENS). Using the same laser power and scanning speed, different deposition efficiencies are achieved by adjusting powder flow rate and layer increment. Microstructures and mechanical properties of the deposited struc-tures under different deposition efficiencies are discussed. The results show that, for certain laser power and scan-ning speed, the deposition efficiency increases from 12.41 mm3/s to 22.62 mm3/s with the increase of the powder flow rate and layer increment , which increases by 86.3% compared with the initial process. Laser energy consumed by depositing unit effective volume reduces from initial 98.84 J/mm3 to 53.06 J/mm3 and the energy efficiency in-creases by 46.32%. Microstructures of the specimen consist of columnar dendrite and the dendrite length increases obviously with the deposition efficiency. Property test shows that properties of the specimen under different deposi-tion efficiencies are consistent and do not decrease with the deposition efficiency. Tensile strength and yield strength are stable in 510 MPa and 290 MPa, respectively. The elongation rate is around 40% while the micro-hardness is about 180 HV, all of which have reached the same level of forging. The results illustrate that the deposition efficiency and mechanical property can be optimized, which achieves fabrication of high performance parts with low energy consumption and high efficiency.