Bead-on-plate submerged arc welding was conducted on St37 steel by manufactured Cr, Mo, and Cr-Mo active basic fluxes produced via the unfused bonded method. The base metal heat-affected zone and weld metal (WM) microstructures were identified and characterized by optical microscopy and scanning electron microscopy. Then, the ferrite morphologies volume fraction of WMs were measured. Moreover, the chemical analysis of slag and inclusions was evaluated by point scan energy-dispersive X-ray spectroscopy and extensively discussed. Inclusions number density and size and their effects on the formation of AF were also elaborated. Then, the WMs’ longitudinal tensile strength and Vickers hardness were measured. Finally, the Charpy V-notch test was conducted to determine the impact toughness; the fracture surfaces were investigated, as well.