The combination of corrosion resistance and mechanical properties of martensitic precipitation hardening stainless steels (MPHSS) makes them well suited for demanding applications in aerospace, high-pressure gas bottles, or in injection molding of corrosive plastics. Directed energy deposition methods and specifically the laser metal deposition process with powder as feedstock (LMDp) have the potential to be applied in the production of such components. It is well-known that the geometrical features of the deposited beads such as aspect ratio and dilution are crucial for process efficiency and deposition quality. Therefore, this work aims at understanding the influence of the process parameters and the resulting microstructure of a MPHSS modified PH 13-8Mo alloy when using LMDp. Design of experiment (DoE) was used to plan and analyze the influence and interaction of the different LMDp process variables in the geometry of the deposits. It was found that height, width, and depth were statistically significantly influenced by speed, while height was also considerably influenced by the powder feeding rate. In terms of laser power, it was the most significant factor for the width and the depth, but it did not significantly affect the height of the beads. The results showed that the as-deposited microstructure of the modified PH 13-8Mo under the LMDp conditions investigated in this work consists of a martensitic matrix with some amount of primary δ ferrite. The presence of a low amount of retained austenite and aluminum-enriched inclusions was confirmed. This work enhances the fundamental process and material understanding of LMDp of the modified PH 13-8Mo alloy as a first stage in the fabrication of additively manufactured components.