In this study, two-mm-thick dual-phase LA103Z Mg-Li and 6061 Al alloys, known for their application in lightweight structural designs, were joined using dynamic support friction stir lap welding (DSFSLW). The microstructural evolution and mechanical properties of dissimilar joints were investigated at different welding speeds. The analysis revealed two distinct interfaces: the diffusion interface and the mixed interface. The diffusion interface, characterized by a pronounced diffusion zone, is formed under slower welding speeds. The diffusion zone height, the effective lap width, and the interface layer thickness decrease with increasing welding speed due to low plastic deformation capacity and weak interfacial reactions. Conversely, the mixed interface, associated with higher welding speeds, contained large Al fragments. The extremely high microhardness values (130.5 HV) can be ascribed to the formation of intermetallic compounds (IMCs) and strain-hardened Al fragments. Notably, the maximum shear strength achieved was 175 N/mm at a welding speed of 20 mm/min. The fracture behavior varied significantly with the interface type; the diffusion interface showed enhanced mechanical strength due to better intermetallic reactions and interlocking structures, while the mixed interface displayed more linear crack propagation due to weaker IMCs and the absence of hook structures. Fracture surface analysis indicates that fractures are more likely to propagate through the Al matrix and interface layers.