To combat thermal-induced problems such as residual stress, deformation, and crack, induction heating is introduced into weld-based additive manufacturing process as a controlled thermal intervention. To date, however, numerical simulation of this induction-assisted weld-based additive manufacturing process is still a tough task; for conducting transient thermoelectromagnetic motion, coupling analysis is computationally prohibitive. In this paper, a simulation strategy is devised to address the problem. The coupling analysis is performed only at a typical time to obtain the representative distribution of induction heat, which is then transferred to the thermal analysis of multilayer deposition as a moving heat source. Utilizing this strategy, the effects of real-time induction preheating and postheating on residual stress state are analyzed in comparative simulations. The results show that both induction preheating and postheating lead to more homogeneous heat input and lower residual stresses compared with the case without induction heating.