This study investigates the microstructural development of commercial low-alloyed AISI 4340 steel through the synergistic application of Binder Jetting and Quenching and Partitioning (QP) processes. The material in the as-sintered condition exhibited significant variations in microstructure and mechanical properties, primarily influenced by the processing route. Carbon content was influenced by the building technique as decarburization was observed at different intensities mainly during the heating stage of sintering, driven by carbothermic reduction. Vacuum-debinding was found to be optimal, leading to the most homogeneous microstructure, predominantly granular bainite with superior hardness and tensile strength. Different QP treatments were optimized considering the decarburization effect on the optimal as-sintered condition, stabilizing 4–8 % retained austenite in a martensitic matrix, with optimal results observed after isothermal holding at either 220 °C or 240 °C for 30 min. These conditions resulted in high UTS values of 1231 MPa and 1151 MPa, respectively, compared to 750 MPa in the as-sintered state. Despite high tensile properties, A% was limited by the presence of residual porosity. This study highlights the critical importance of controlled debinding and sintering atmospheres as well as decarburization-informed QP treatments in achieving desirable microstructural and mechanical properties in additively manufactured AISI 4340 steel components.