Oxide-dispersion-strengthened (ODS) steels are candidate materials for components in current and future nuclear power plants. One of the issues with using ODS steels is the difficulty of joining them without loss of mechanical performance. In this study, austenitic ODS 316L stainless steel was diffusion-bonded to Inconel 718 superalloy. Having optimized the bonding conditions, a number of samples were made at 1200 °C with a bonding time of 1 hour and pressure of 10 MPa. Preliminary mechanical and microstructural analyses indicated the formation of a sound joint interface, despite slight grain growth in the ODS 316L. A post-bonding thermo-mechanical treatment (TMT) was conducted to refine and restore the microstructure of the ODS 316L. Comparative TEM investigations of the parent ODS alloy and the bonded samples (with and without TMT) along with statistical analyses showed that the Y–Ti–O oxide size distribution remains unaffected by the bonding and complementary TMT cycles, indicating stability of such particles even at very high temperatures and suitability of the devised route for joining the ODS 316L steel.