A three-dimensional transient finite element model of laser cladding 316 L stainless steel was established to study the evolution of temperature and stress fields under different process parameters. The effects of process parameters on the surface morphology, hardness distribution and wear resistance of 316 L stainless steel cladding layer were investigated, and the wear mechanism was analyzed. The simulation results indicate that the nodal temperature trends during laser cladding are similar across different process parameters, with temperatures rising to a peak and then gradually cooling to room temperature as the heat source moves through. Residual stresses are primarily located on both sides of the bond between the cladding and the substrate, with the highest stresses in the laser scanning direction. Excessive or insufficient laser power and scanning speed result in poor surface quality of the cladding. The hardness of the cladding layer is negatively correlated with laser power and positively correlated with scanning speed, showing a gradual increase from the substrate-cladding interface to the top of the cladding. The friction coefficient of the cladding increases with laser power and decreases with scanning speed. The main wear mechanisms of the cladding coating are abrasive, adhesive, and oxidative wear.