Austenitic stainless steel (ASS) tubes, specifically TP321, are widely used in nuclear reactors and heat exchangers due to their excellent strength, toughness, and corrosion at ambient and elevated temperatures. The microstructure observed in the TP321 weldment reveals the existence of equiaxed dendrites, along with delta ferrite and TiC precipitates within the austenitic matrix. Electron backscatter diffraction (EBSD) scans confirm differences in texture, grain size, and grain misorientation distribution in the weld metal (WM), heat-affected zone (HAZ), and base metal (BM) regions of the weldment. The EBSD texture at the WM zone is strong in the 〈0 0 1〉 fiber direction, consistent with the face-centered cubic structure of the TP321. Hot tensile tests were conducted on BM and WM samples at 450 °C, 550 °C, 650 °C, 700 °C, 850 °C, and 900 °C using a Gleeble 3500 simulator. The yield strength (YS), ultimate tensile strength (UTS), and percentage elongation (EL) exhibited a decreasing trend with the rise in test temperature. The strain hardening capacity (Hc) of both BM and WM decreases with increasing test temperatures due to enhanced dislocation movement. The strain hardening exponent, ‘n’ was determined for BM and WM through suitable fitting of stress–strain curves using the Hollomon equation and depicted a decreasing trend with rising test temperatures. The fractured samples are subjected to scanning electron microscope (SEM) analysis to investigate the failure mechanism. Fractography of the fractured samples reveal the presence of micro voids and dimples, supporting the ductile nature of the rupture.