In this study, we utilized Selective Laser Melting (SLM) technology to fabricate a magnesium alloy, and subsequently subject it to micro-arc oxidation treatment. We analyzed and compared the microstructure, elemental distribution, wetting angle, and corrosion resistance of the SLM magnesium alloy both before and after the micro-arc oxidation process. The findings indicate that the SLM magnesium alloy exhibits surface porosity defects ranging from 2% to 3.2%, which significantly influence the morphology and functionality of the resulting film layer formed during the micro-arc oxidation process. These defects manifest as pores on the surface, leading to an uneven distribution of micropores with varying sizes across the layer. The surface roughness of the 3D-printed magnesium alloy exhibits a high roughness value of 180 nanometers. The phosphorus (P) content is lower within the film layer compared to the surface, suggesting that the Mg3(PO4)2 phase predominantly resides on the surface, whereas the interior is primarily composed of MgO. The micro-arc oxidation process enhances the hydrophilicity and corrosion resistance of the SLM magnesium alloy, thereby potentially endowing it with bioactivity. Additionally, the increased surface roughness post-treatment promotes cell proliferation. However, certain inherent defects present in the SLM magnesium alloy samples negatively impact the improvement of their corrosion resistance.