A major advantage of additive manufacturing (AM) technologies is the ability to print customized products, which makes these technologies well suited for the orthopedic implants industry. Another advantage is the design freedom provided by AM technologies to enhance the performance of orthopedic implants. This paper presents a state-of-the-art overview of the use of AM technologies to produce orthopedic implants from lattice structures and functionally graded materials. It discusses how both techniques can improve the implants’ performance significantly, from a mechanical and biological point of view. The characterization of lattice structures and the most recent finite element analysis models are explored. Additionally, recent case studies that use functionally graded materials in biomedical implants are surveyed. Finally, this paper reviews the challenges faced by these two applications and suggests future research directions required to improve their use in orthopedic implants.