Laser welding on thin plates of high-strength steel is increasing in various industrial applications. The mechanical behavior of welded joints depends on their local properties, which in turn depend on the welding parameters applied to join the base material. This work characterizes the local properties of butt-welded joints of thin plates of high-strength–low-alloy (HSLA) steel. This study focuses on the effect of welding parameters on the microstructure, tensile response, microhardness, and weld bead profile. For this purpose, a factorial experimental design was formed, covering a heat input range from 53 to 75 J/mm. This study identified the main effects and interactions of welding speed and laser power on the weld bead profile and on its width. The microstructure, weld bead width, hardness, and tensile mechanical properties were significantly influenced by heat input. Furthermore, numerical simulations on real weld bead profiles revealed high values of the stress concentration factor and suggested a correlation with heat input.