The quick-emerging paradigm of additive manufacturing technology has revealed salient advantages in enabling the tailored-design of structural components with more exceptional performances over ordinary subtractive processing routines. As a peculiar feature, sub-micro cellular structures widely exist in additively manufactured (AM) metallic materials. This phenomenon primarily appears with high-density dislocations and segregated elements or precipitates at the cellular boundaries. The discovery of novel metastable substructures in various alloys through numerous investigations has proven their substantial effects on the engineering properties of AM components. This paper reviews the most recent research momentum regarding the formation mechanisms (elemental segregation, dislocation cell and oxide inclusion), the kinetics of the size and morphology, the growth orientation and the thermodynamic stability of these cellular structures by taking AM austenitic stainless steel as an exemplary material. Another topic of concern here is the inherent correlation between the unique cellular microstructure and the corresponding mechanical properties (strength, ductility, fatigue, etc.) and corrosion responses (passivity, irradiation damage, hydrogen embrittlement, etc.) for this category of AM materials. The design, control, and optimization of cellular structures for additive manufacturing techniques are expected to inspire new strategies for advancing high-performance structural alloy development.