High-temperature oxidation behavior of conventionally cast and additively manufactured (AM) Co-base alloy MAR-M-509 was compared in the present study. The specimens were exposed in air at 1000 °C and characterized by means of scanning electron microscopy equipped with energy/wavelength dispersive x-ray spectroscopy (EDX/WDX) and electron backscatter diffraction as well as transmission electron microscopy. Substantial differences in the oxidation processes of two alloy versions were observed. Faster oxidation of the cast alloy was mainly induced by (1) oxidation of coarse primary carbides, (2) internal oxidation and nitridation processes and (3) incorporation of other alloy constituents (e.g., Co, Ni, W) into the Cr-oxide scale. AM specimens, in contrast, formed a more homogeneous, thinner and better adherent external oxide scale. The results are discussed in terms of differences in the chemical composition and alloy microstructure, including the grain size distribution in the material and the morphology of the strengthening precipitate phases.