The safe-end of a steam generator (SG) nozzle dissimilar metal weld (DMW) for pressurized water reactors (PWRs) is the weakest point of failure which is crucial for the safe operation of a nuclear power station. Related to materials micro-structures, a uniaxial stress–strain relationship is the basic input parameter for nuclear power plant design, safety evaluation, and life management. In this paper, the micro-structure and tensile mechanical properties of a DMW of a European pressurized water reactor (EPR) were studied. Vickers hardness tester, optical microscope, and electron back scatter diffraction were used to analyze the micro-structure of the DMW joint. In addition, the residual strain of the DMW joint base material, heat-affected zone, weld metal, and fusion boundary region were studied. Based on digital image correlation (DIC) technology, tensile mechanical properties of the DMW joint were obtained. The results show that an accurate tensile stress–strain relationship of dissimilar metal welded joints can be obtained by using the DIC technique, the weld is the relatively weak link, and the residual strain is concentrated in the heat-affected zone. This study provides valuable engineering information regarding nuclear power plant design, in-service performance testing, and structural analysis and evaluation of welds containing defects.