Ultrasonic welding (USW) of thermoplastics plays a significant role in the automobile industry. In this study, the effect of the welding time on the joint strength of ultrasonically welded acrylonitrile–butadiene–styrene (ABS) and the weld formation mechanism were investigated. The results showed that the peak load firstly increased to a maximum value of 3.4 kN and then dropped with further extension of the welding time, whereas the weld area increased continuously until reaching a plateau. The optimal welding variables for the USW of ABS were a welding time of 1.3 s with a welding pressure of 0.13 MPa. Interfacial failure and workpiece breakage were the main failure modes of the joints. The application of real-time horn displacement into a finite element model could improve the simulation accuracy of weld formation. The simulated results were close to the experimental results, and the welding process of the USW of ABS made with a 1.7 s welding time can be divided into five phases based on the amplitude and horn displacement change: weld initiation (Phase I), horn retraction (Phase II), melt-and-flow equilibrium (Phase III), horn indentation and squeeze out (Phase IV) and weld solidification (Phase V). Obvious pores emerged during Phase IV, owing to the thermal decomposition of the ABS. This study yielded a fundamental understanding of the USW of ABS and provides a theoretical basis and technological support for further application and promotion of other ultrasonically welded thermoplastic composites.