Powder-bed fusion (PBF) process is a subdivision of additive manufacturing (AM) technology where a heat source at a controlled speed selectively fuses regions of a powder-bed material to form three-dimensional (3D) parts in a layer-by-layer fashion. Two of the most commercialized and powerful PBF methods for fabricating full-density metallic parts are the laser PBF (L-PBF) and electron beam PBF (E-PBF) processes. In this study, a multiphysics-based 3D numerical model is developed to compare the thermo-fluid properties of Ti-6Al-4V melt pools formed by the L-PBF and E-PBF processes. The temperature-dependent properties of Ti-6Al-4V alloy and the parameters for the laser and electron beams are incorporated in the model as the user-defined functions (UDFs). The melt-pool geometry and its thermo-fluid behavior are investigated using the finite volume (FV) method, and results for the variations of temperature, thermo-physical properties, velocity, geometry of the melt pool, and cooling rate in the two processes are compared under similar irradiation conditions. For an irradiance level of 26 J/mm3 and a beam interaction time of 1.212 ms, simulation results show that the L-PBF process gives a faster cooling rate (1. 5 K/μs) than that in the E-PBF process (0.74 K/μs). The magnitude of liquid velocity in the melt pool is also higher in L-PBF than that in E-PBF. The numerical model is validated by comparing the simulation results for the melt-pool geometry with the PBF experimental results and comparing the numerical melt-front position with the analytical solution for the classical Stephan problem of melting of a phase-change material (PCM).