Eutectic NiAl-(Cr,Mo) composites are promising high temperature materials due to their high melting point, excellent oxidation behavior and low density. To enhance the strength, hardness and fracture toughness, high cooling rates are beneficial to obtain a fine cellular-lamellar microstructure. This can be provided by the additive process of selective electron beam melting. The very high temperature gradient achieved in this process leads to the formation of the finest microstructure that has ever been reported for NiAl-(Cr,Mo) in-situ composites. A very high hardness and fracture toughening mechanisms were observed. This represents a feasibility study towards additive manufacturing of eutectic NiAl-(Cr,Mo) in-situ composites by selective electron beam melting.