Low-temperature transient liquid phase (TLP) bonding for Ag-plated substrates was systematically investigated by using foil-based interlayer of pure Sn foil or preformed Sn/Cu/Sn sandwich structure in air atmosphere. The influences of bonding process, such as bonding temperature, bonding time and foil thickness, on the microstructure characterization and mechanical behavior of TLP joint were discussed. Experimental results show that Ag-plated substrates can be successfully TLP bonded in air atmosphere by the protection of flux. The formation of pores in intermetallic compounds (IMCs) is a serious problem for Ag/Sn/Ag TLP bonding, which is attributed to the volume shrinkage of isolated Sn areas during isothermal solidification. Prolonging homogenization time, properly increasing bonding pressure, decreasing temperature, or reducing interlayer thickness can effectively reduce the shrinkage porosity, but is still incapable of eliminating pores thoroughly. Both shear bands and intergranular facets are simultaneously observed on the fracture surface of Ag 3 Sn joint. Since the micro voids distributing along Ag 3 Sn grain boundaries weaken the cohesion strength between two neighboring Ag 3 Sn grains in some areas. Using preformed Sn/Cu/Sn interlayer is available to enhance the mechanical integrity, which is strongly depended on the Cu thickness and Sn thickness. The joint shear strength can be increased by even more than 100% by the introduction of Cu foil. Moreover, the remained Cu layer in the IMCs can act as a buffer layer during fracture process, leading to the improvement of the ductility of TLP joint.