The welded joints of 1Cr18Ni9Ti austenitic stainless steel and GH1140 nickel-based superalloy dissimilar materials used in certain types of aero-engine combustion liner components are prone to crack initiation during service, seriously affecting the service life of the combustion liner. In this study, laser shock peening (LSP) was applied to the dissimilar metal weld of 1Cr18Ni9Ti and GH1140, which are used in the combustion liner parts of aero engines. The effects of LSP on the residual stress, microhardness, microstructure and high-cycle fatigue performance of the weld were analyzed. The results show that the residual stress in the weld and heat-affected zones was converted from tensile residual stress to high amplitude compressive residual stress via LSP. Furthermore, the surface hardness of every region of the combustion liner weld was increased, especially in the weld zone, where an increase of 41.4% from 162 HV to 229 HV was observed. Simultaneously, with the introduction of grain refinement, gradient plastic deformation in the depth direction and the dislocation structure of the surface material, the high-cycle fatigue limit of the weld specimen was significantly increased and the fatigue limit of the 1Cr18Ni9Ti/GH1140 welded joint was improved by 65.39%, from 289 to 478 MPa.