The emergence of ferrous-medium entropy alloys (FeMEAs) with excellent tensile properties represents a potential direction for designing alloys based on metastable engineering. In this study, an FeMEA is successfully fabricated using laser powder bed fusion (LPBF), a metal additive manufacturing technology. Tensile tests are conducted on the LPBF-processed FeMEA at room temperature and cryogenic temperatures (77 K). At 77 K, the LPBF-processed FeMEA exhibits high yield strength and excellent ultimate tensile strength through active deformation-induced martensitic transformation. Furthermore, due to the low stability of the face-centered cubic (FCC) phase of the LPBF-processed FeMEA based on nano-scale solute heterogeneity, stress-induced martensitic transformation occurs, accompanied by the appearance of a yield point phenomenon during cryogenic tensile deformation. This study elucidates the origin of the yield point phenomenon and deformation behavior of the FeMEA at 77 K.