Butt joints of the V-1461 and 1424 heat treated aluminum–lithium alloys of the third generation were welded with a CO2 laser and studied in detail for the first time. In particular, spatial distributions of the formed phases and their evolution upon post-weld heat treatment (PWHT), determining the mechanical properties of the joints, were investigated. The PWHT included quenching and subsequent artificial aging. The key factors, affecting the metallurgical processes in a weld pool, were the following: 1) the alloying elements and the thermal properties of the alloys, 2) the dynamics of the local non-equilibrium melting, the convective transfer of the molten metal in the weld pool and its subsequent solidification, 3) the cooling rate, and 4) the PWHT procedure. By using synchrotron radiation and scanning electron microscopy, new θ(Al2Cu), T1(Al2CuLi) and S1(Al2MgLi) phases were found in the weld metal that were absent in both base metals. This phenomenon reduced the mechanical properties of the joints to the levels, corresponding to about 50 % of the 1424 alloy as the weakest one. Quenching contributed to the formation of the δ′(Al3Li) strengthening phase in the weld metal. As a result, the ultimate tensile strength increased up to 70 % and elongation up to 95 % of the corresponding levels of the 1424 alloy. Artificial aging made it possible to form the T1(Al2CuLi) strengthening phase, to increase the content of the δ′(Al3Li) one, as well as to improve the mechanical properties of the joint. In this case, the ultimate tensile strength was 411 MPa, the yield point was 327 MPa and elongation was 1.7 %. These values were close to those for the 1424 alloy (about 80 %, 89 % and 23 %, respectively).