A laser additive and subtractive hybrid manufacturing technology was proposed to repair Inconel 718 cracks in this paper. Microstructures and the mechanical properties such as the micro-hardness, the tensile strength, and the friction-wear of the repair zone were investigated in detail. The microstructure analysis showed that a metallurgical bonding could be achieved between the repair zone and the matrix. The typically columnar and dendrite crystal appeared in the repaired zone, and the crystal epitaxial grew along the deposition direction, and the heat-affected zone in the groove boundary was coarse equiaxial crystal. The mechanical test result showed that the micro-hardness and tensile strength of the repaired tissue was about 87% and 89% of the original Inconel 718 wrought substrate. And, the wear resistance of the repaired zone was similar to that of the substrate. It was found that the surface quality of the repair zone for laser polishing is better than that for mechanical milling.