The large structural components (304 L austenitic stainless steel) used in nuclear power plants are difficult and expensive to manufacture and machine using standard methods. Wire arc additive manufacturing (WAAM) is a low cost and high deposition method for fabricating large structural parts. Therefore, in this investigation, 304 L austenitic stainless steel (304 L ASS) cylindrical component was fabricated using WAAM technique. The mechanical and microstructural characteristics of the bottom (region ①) and top (region ②) of the WAAM 304 L ASS component are studied. The microstructure of region ① consists of austenite and ferrite with vermicular and lathy morphologies, while region ② consists of skeletal and reticular morphologies. In regions ① and ②, yield strength (YS), ultimate tensile strength (UTS), and elongation (EL) were found to be 350 ± 7 MPa, 562 ± 10 MPa, and 75 ± 1%, respectively. The impact toughness and hardness in regions ① and ② were found to be 112 ± 2 J and 183 ± 6 (Hv0.5), respectively. From the results, it is evident that the tensile properties of the WAAM 304 L ASS component were equal/greater than the values of the forged 304 L ASS material, wrought 304 L ASS alloy, and 304 L ASS filler wire.