The microstructure of dissimilar transient-liquid-phase (TLP) bonding of Hastelloy X nickel base super alloy to Ni3Al intermetallic by AWS BNi2 filler metal at different temperatures (1000–1150 °C) and time ranges (60–180 min) was investigated. A novel study was done to correlate the phase transformation during bonding with microstructure and phase transformation using field emission scanning electron microscope (FESEM), high resolution transmission electron microscope (HR-TEM), and high temperature X-ray diffraction (HTXRD). Efforts were performed to correlate the phase transformation stages during isothermal solidification (IS), formation of Cr-Mo precipitates in diffusion affected zone (DAZ) and dissolution of nickel silicides (eutectic morphology) in athermal solidification zone (ASZ) with their respective reaction temperatures. The high tendency of Hastelloy X to react intensely with filler metal generated Mo-Cr rich phase in DAZ. The ISZ was developed across the joint area after holding at 1100 °C for 180 min. High temperature XRD results on half joint of HX revealed new phases generated at above 1050 °C including BNi2,BNi3, and Ni2Si (Ni-Si eutectic phase) confirmed by FESEM. On the other half joint (Ni3Al), no BNi phases were generated nor nickel silicides by increasing temperature as high as 1150 °C.