Versatility of powder metallurgy was used to design new duplex and compositionally graded steels. Rapid consolidation by Spark Plasma Sintering (SPS) and longer consolidation by Hot Isostatic Pressing (HIP) were applied on two austenitic 316L and martensitic Fe-9Cr powders, either homogeneously blended or uniaxially graded before sintering.The microstructural investigations by micro-hardness, SEM, EDX and EBSD showed a continuous crystallographic structure at the austenite–martensite interface and a similar grain size in SPS and HIP samples, whereas a larger interdiffusion length of Cr and Ni was observed in the HIP sample, as confirmed by diffusion calculations. The tensile behaviour of materials could not be described by a simple law of mixtures. To better understand this phenomenon, the obtained materials were described as a composite and iso-strain and iso-stress models were used and discussed. The microstructural characterizations show that during the consolidation, diffusion of the chemical species modifies the nature and the respective fractions of phases, which explains the discrepancy between the models and the experimental mechanical behaviour of the duplex alloys.