Due to high productivity, additive manufacturing (AM), and especially Directed Energy Deposition using laser and metallic powder (DED-LB/M) is attractive for manufacturing tools with integrated functionalities. This investigation was dedicated to DED-LB/M manufacturing of experimental maraging tool steel, characterization of the build microstructure with advanced electron microscopy and evaluation of hardness properties. High printability and low porosity of the final builds were observed, relative density was not lower than 99.5% for specimens manufactured with 600 W and 800 W, but microstructure and properties of the build had a gradient along the height. The characteristic hardness profile and microstructure, which were dependent on the manufacturing parameters, were observed. The top layers of manufactured maraging steel samples had a structure of martensite with precipitates presumably formed during solidification. The top layers were therefore softer to the depth of the austenitization isotherm. The higher hardness was measured in the inner regions which was a result of an in-situ heat treatment that the manufactured material was subjected to during layer-by-layer manufacturing. Thermal cycles during manufacturing resulted in precipitation hardening effect in the inner regions. Scanning and transmission electron microscopy confirmed the formation film-like and round particles in the as-build material, in top and inner regions. However, the quasicrystalline nano-sized R′-phase precipitates were observed only in the inner regions. The formation of the R′-phase precipitated during manufacturing as a result of the in-situ heat treatment was discussed as a reason for higher hardness (440 – 450 HV1) measured in the inner regions.