Today, a large number of different steels are being processed by Additive Manufacturing (AM) methods. The different matrix microstructure components and phases (austenite, ferrite, martensite) and the various precipitation phases (intermetallic precipitates, carbides) lend a huge variability in microstructure and properties to this class of alloys. This is true for AM-produced steels just as it is for conventionally-produced steels. However, steels are subjected during AM processing to time-temperature profiles which are very different from the ones encountered in conventional process routes, and hence the resulting microstructures differ strongly as well. This includes a very fine and highly morphologically and crystallographically textured microstructure as a result of high solidification rates as well as non-equilibrium phases in the as-processed state. Such a microstructure, in turn, necessitates additional or adapted post-AM heat treatments and alloy design adjustments. In this review, we give an overview over the different kinds of steels in use in fusion-based AM processes and present their microstructures, their mechanical and corrosion properties, their heat treatments and their intended applications. This includes austenitic, duplex, martensitic and precipitation-hardening stainless steels, TRIP/TWIP steels, maraging and carbon-bearing tool steels and ODS steels. We identify areas with missing information in the literature and assess which properties of AM steels exceed those of conventionally-produced ones, or, conversely, which properties fall behind. We close our review with a short summary of iron-base alloys with functional properties and their application perspectives in Additive Manufacturing.