Electron-Beam Powder Bed Fusion (EB-PBF) is one of the most important metal additive manufacturing (AM) technologies. In EB-PBF, a focused electron beam is used to melt metal powders in a layer by layer approach. In this investigation two pre-alloyed steel-based powders, stainless steel 316L and V4E, a tool steel developed by Uddeholm, were used to manufacture functionally graded materials. In the proposed approach two powders are loaded into the feeding container, V4E powder on top of 316L one, preventing their mixing. Such type of feeding yields components with two distinct materials separated by a zone with gradual transition from 316L to V4E. Microstructure and local mechanical properties were evaluated in the manufactured samples. Optical Microscopy, Scanning Electron Microscopy and EDX on the polished cross-sections show a gradual microstructural and compositional transition from characteristic 316L at the bottom of the specimens to the tool steel towards the top. Nanoindentation experiments confirmed a consequent gradient in hardness and elastic modulus, which gradually increase towards the top surface of the samples. The achieved results provide great possibilities to tailor the composition, microstructure, mechanical properties, and wear resistance by combining different powders in the powder bed AM technology. Potential applications include the tooling industry, where hard and wear-resistant materials are demanded on the surface with tougher and more ductile materials in the core of the tool.