Additive manufacturing (AM) processes are reliable techniques to build highly complex metallic parts. Direct energy deposition (DED) is one of the most common technologies to 3D print metal alloys. Despite a wide range of literatures that have been discussed the ability of DED in metal printing, weak binding, poor accuracy, and rough surface still exist in final products. Thus, limitations in 3D printing of metal powder and wire indicate post-processing techniques required to achieve high quality in both mechanical properties and surface quality. Therefore, hybrid manufacturing (HM), specifically additive/subtractive hybrid manufacturing (ASHM) of DED has been proposed to enhance product quality. ASHM is a capable process that is combining two technologies with 3-axis or multi-axis machines. Different methods have been suggested to increase the accuracy of machines to find better quality and microstructure. In contrast, drawbacks in ASHM still exist such as limitations in existing reliable materials and poor accuracy in machine coordination to avoid collision in the multi-axes machine. It should be noted that there is no review work with focus on both DED and ASHM of DED. Thus, in this review work, a unique study of DED in comparison to ASHM as well as novel techniques are discussed towards the objective of showing the capabilities of each process and the benefits of using them for different applications. Finally, new gaps are discussed in ASHM to enhance the layer bonding and surface quality with the processes’ effects on microstructures and performance.