A dissimilar laser beam welded joint of ferritic/martensitic P92 steel, and 304L austenitic stainless steel (ASS) has been examined in as-weld and post-weld heat treatment (PWHT) at 760 °C for 120 min for microstructure feature and mechanical aspects. The microstructure of the weld metal, interface, and heat-affected zone (HAZ) was characterized in detail, and it was observed that a great level of inhomogeneity exists in a dissimilar joint. In addition, the effect of the inhomogeneity in microstructure on mechanical properties, microhardness, and impact strength of the welded joint was discussed. The welded joint's mechanical properties met the USC boiler requirement for both as-weld and PWHT situations. The welded joint showed a decent combination of tensile strength and impact strength for both as-weld and PWHT conditions. The tensile results showed the failure from the 304L SS base metal, which ensured the acceptable strength of the weld metal for the laser welded joints. The part of the welded joint with relatively poor impact strength was the weld metal. Though, the Charpy impact toughness of the weld metal (89 J) was measured higher than the ASME standard value (>41 J) and EN 1599:1997 standard value (>47 J) in the as-weld situation. The impact strength of the weld fusion zone was 138 J in PWHT condition. © 2022 Elsevier Ltd