The results showed that the vertical and horizontal building directions obviously affect the bending and impact properties of as-built alloys. The transverse rupture strength (TRS) and impact energy of the horizontally-built alloy were respectively found to be 48% and 100% higher than those of the vertically-built one. In the vertically-built alloy, disc-shaped building defects, identified by X-ray computed tomography (CT) and microscopy, obviously reduce the effective load-bearing cross-section and deteriorate the bending and impact performances. After HIP at 1000 °C/150 MPa, the α′-martensite structure in the as-built alloy is transformed into an α+β lamellar one, and the disc-shaped building defects are evidently eliminated. As a result, the impact energies of as-built vertical and horizontal specimens are improved by 28 J (560%) and 19 J (190%), respectively, and the TRS of the as-built vertical alloy is raised by 550 MPa (37%). Consequently, the discrepancies in TRS and impact energy between the HIPed vertical and horizontal specimens are merely 3% and 14%, respectively, and the anisotropic behaviors of the SLM Ti-6Al-4V alloy are thus substantially lessened.