Stainless steel 316L (SS316L) is extensively employed in engineering applications owing to its excellent corrosion resistance, ductility, and workability. However, its relatively low yield strength and limited wear resistance hinder its suitability for environments of wear. The incorporation of ceramic nanoparticles as reinforcement within the SS316L matrix has emerged as a promising strategy to enhance its performance by leveraging the synergistic effects between the metallic matrix and the ceramic phase. In this study, SS316L based nanocomposites were fabricated via laser powder bed fusion (LPBF) by incorporating small amounts of tungsten carbide (WC) and titanium nitride (TiN) nanoparticles. The addition of WC nanoparticles not only resulted in enhanced mechanical strength, as confirmed previously, but also led to a significant reduction in wear rate without a reduction in the corrosion-resistant performance of SS316L. The incorporation of TiN nanoparticles further improved mechanical performance through grain refinement. Microstructural analysis confirmed a uniform dispersion of nanoparticles both within grain interiors and along grain boundaries maintaining a high interfacial strength with the matrix. This corresponds to substantially lower wear rates, dominated by abrasive wear. These findings highlight the potential of nanoparticle reinforcement in enhancing the mechanical and tribological performance of LPBF-fabricated SS316L components for advanced structural applications.