In this work, a high frequency induction heating (HFIH) assisted plasma arc welding (IPAW) technique is proposed to weld 6 mm thick S690QL high strength low alloy steel plates in square butt joint configuration and without using any filler material. A 3D finite element based coupled electromagnetic-thermal analysis is carried out to ascertain the weld's thermal characteristics. Microstructure evolution and mechanical performance are investigated using scanning electron microscopy, electron back scattered diffraction, transmission electron microscopy, tensile test, Charpy impact test and micro hardness test. The results demonstrate that 15 s initial static heating using a co-directional current coil with magnetic flux concentrator predominantly improves the weld penetration by 48 % and joint efficiency reaches 90 % to the base plate strength. Microstructural study shows that the addition of HFIH promotes low angle grain boundaries (LAGB) with bainite ferrite and granular bainite micro-constituents in the fusion zone, which causes localised yielding and failure in this zone during tensile test. Further investigation reveals that the HFIH encourages the formation of BI-type bainite ferrite laths of 1.3–2.2 μm width, combined with slender martensite-austenite (M-A) island at the bainite ferrite lath boundaries. The results also reveal that the induction heating promotes the formation of M23C6 precipitates and B2 structured Cu-enrich nano precipitates in the fusion zone (FZ). The microhardness distribution indicates that the FZ and coarse grain heat affected zone are significantly reduced due to the assistance of the HFIH. The impact test result shows a lower energy absorption by the IPAW weldments due to dominance of the LAGB with unfavourable strain distribution.