The laser powder bed fusion (L-PBF) technique was utilized to manufacture a hybrid M789-N709 alloy by depositing M789 steel on wrought N709 steel. The tensile strength of the M789-N709 interface generated during the process has been established to be higher than that of the base materials. In the previous work of the current authors, extensive characterization of the M789-N709 interface (before and after heat treatment) was performed by means of electron backscatter diffraction, electron probe microanalysis, transmission electron microscopy with energy dispersive spectroscopy, and atom probe tomography analyses, to understand the mechanisms associated with its superior strength. In the present work, since the application of the hybrid alloy is targeted towards an elevated temperature environment, the individual high-temperature mechanical properties of M789 and N709 steels were acquired at various temperatures and strain rates using a Gleeble 563 thermomechanical system. Then, based on the flow curves, phenomenological-, and physical-based constitutive material models were established. These constitutive models can be utilized to accurately assess the high-temperature response of the hybrid alloy system using finite element analysis programs. This work demonstrates the application of thermomechanical processing and constitutive modeling in the field of metal additive manufacturing.