In the present work, the creep strength-enhanced ferritic martensitic P92 steel was welded with 304L austenitic stainless steel. The dissimilar joining of these two different grades of material was performed by using tungsten inert gas welding process. The nickel-based ERNiCr-3 welding consumable was used. The influence of post-weld heat treatment (760 °C, 2h), called as tempering, was also investigated. The secondary electron and optical image confirmed that ERNiCr-3 weld metal is accompanied by an equiaxed austenitic microstructure with Ni weight percentage of 68.29%. The energy-dispersive X-ray spectroscopy and electron probe microanalyzer results of the weld fusion zone revealed the Nb, Cr, and Ti segregation in the inter-dendritic region. The elemental mapping of the carbon-depleted zone, and the interface was performed using an electron probe microanalyzer, which revealed the diffusion of Ni, Cr, and Fe across the interface of P92 steel and ERNiCr-3 filler weld. The tensile test result indicated that part of the dissimilar weld joints (DWJs) with relatively weak ultimate tensile strength was ERNiCr-3 weld metal. The ultimate tensile strength value of the DWJs was observed as 610 MPa and 580 MPa in the as-weld and post-weld heat treatment situations, respectively. The Charpy V-notch impact energy of the ERNiCr-3 weld fusion zone was achieved as 135 ± 2 J and 140 ± 2 J in as-weld and post-weld heat treatment situations, respectively. The low impact toughness of the ERNiCr-3 weld metal was attributed to the presence of niobium carbide (NbC) and titanium carbide (TiC) particles. The peak longitudinal residual stress of 490 MPa and transverse residual stress of 442 MPa were noted in the ERNiCr-3 weld fusion zone at a depth of 3 mm from the top surface. The tempering heat treatment exhibited a significant drop in the residual stresses value for the weld fusion zone and heat affected zone (HAZ).