The aim of this research was to develop a high-efficiency and high-material-use additive manufacturing technology using the hot-wire laser method. In this study, the optimization of process conditions using a combination of a high-power diode laser with a relatively large rectangular laser spot and a hot-wire system was investigated. The effects of process parameters such as laser power, process speed, and wire feeding rate (wire feeding speed/process speed) on a bead appearance and cross-sectional characteristics (e.g., effective width, effective height, maximum height, and near net shape rate) were studied in detail. The process phenomena during the multi-layer deposition were investigated by in situ observation via a high-speed camera.