The design of prostheses for maxillo-facial restoration requires careful selection of materials with desirable biocompatible properties as the patient often has a large wound from trauma or infection. Medical grade ASTM F75 Co-Cr-Mo alloys are the hardest known biocompatible materials commonly used in medical implants, partial denture frameworks, and crown & bridge substructure restorations in dentistry. The primary choice of Co-Cr-Mo alloys for dental applications is due to their excellent mechanical and tribological properties. However, the toxicity and the cost due to the higher concentration of Cobalt (Co) is a major concern. In the present work, an attempt is made to invent a novel low-cost CoCrMoFe alloy composition with considerable reduction in the concentration of Cobalt by the addition of Iron (Fe) which can also be printable by Laser powder bed fusion-based additive manufacturing process. The designed alloy is envisaged to possess reduced toxicity potential and excellent mechanical, biocorrosion and tribological properties compared to commercially used expensive CoCrMo alloys. The alloy composition is developed using the Calphad approach, and optimum printing parameters using a grid search approach are used to develop a robust set of process parameters for producing CoCrMoFe alloy parts with minimal defects and imperfections with required dimensional accuracy. Subsequent to this, non-destructive testing and cross-sectioning are used for estimating the porosity in the manufactured samples; thus, the sets of laser power and appropriate ranges for scanning speeds for the production of solid, non-porous samples are invented. Mechanical properties of as-built CoCrMoFe alloy samples are studied and compared to medical grade ASTM F75 Co-Cr-Mo alloy as a function of build orientations. The tensile strength and yield strength are found to have significantly improved by Fe addition in CoCrMoFe alloy as compared to conventional Co-Cr-Mo alloys. Vickers hardness analysis of CoCrMoFe alloy showed a 30 % improvement in the hardness value as compared to medical grade ASTM F75 Co-Cr-Mo alloy. The preliminary corrosion studies have showed improved corrosion resistance in Co-Cr-Mo-Fe alloy as compared to Co-Cr-Mo alloy. Summarily, CoCr-Mo-Fe alloy has displayed its potential to become a superior alternative to the traditional Co-Cr-Mo alloy for the additive manufacturing of fixed dental restorations. Keywords: Laser Powder Bed Fusion (LPBF); Maxillofacial Implant; Alloy development.