This work investigates the NiTi shape memory alloys fabricated via laser powder-directed energy deposition (LP-DED). The properties of NiTi alloys produced by powder metallurgy or additive manufacturing routes are strongly influenced by the type of feedstock material employed. Two powder feedstocks were used for DED fabrication: a blended mixture of elemental nickel and titanium powders with a nominal chemical composition of Ni56Ti44 (wt.%) and a pre-alloyed NiTi powder containing 55.75 wt.% Ni. Samples fabricated from both types of powders were subjected to microstructural characterization, phase composition analysis, and mechanical and corrosion testing. It was found that DED processing on a non-preheated CP-Ti substrate is prone to warping and that samples deposited from the elemental Ni and Ti powder mixture exhibited pronounced inhomogeneity of microstructure and mechanical properties along the build direction, accompanied by the formation of the Ti₂Ni secondary phase. The absence of a superelastic plateau was observed in the corresponding stress–strain response. On the contrary, the samples deposited from the pre-alloyed NiTi powder exhibited a microstructure composed of B2 and B19′ phases and already demonstrated a clear superelastic response in the as-built condition during tensile loading. Based on the tensile test results, this NiTi material was used only for superelasticity testing. The superelastic behavior was further enhanced by post-deposition heat treatment, which significantly increased the recovery rate from 53% to 89%.