In the present study, a high permeability induction Fe–30%Ni alloy cubic bulk was prepared by the selective laser melting process. In order to reveal the microstructure effect on soft magnetic properties, the microstructure and magnetic properties of the Fe–30%Ni alloy were carefully investigated by scanning electron microscopy, X-ray diffraction and hysteresis measurements. The bcc-Fe (Ni) phase formation is identified by X-ray diffraction. Meanwhile, it was found that low bcc lattice parameter and high grain size could be obtained when high laser scanning velocity and low laser power were used. Moreover, the lowest value of coercivity is 88A/m, and the highest value of saturation magnetization is 565Am²/kg, which can be obtained at a low laser scanning velocity of 0.4m/s and high laser power input at 110W.