Friction Stir Welding (FSW) is an emerging solid-state welding process that joins dissimilar or similar metals based on requirements. The additional material to make the joint is also a weight reduction factor deemed vital in weight-sensitive industries like aerospace and orthopedic applications. The similar and dissimilar Ti-6Al-3Nb-2Zr-1Mo (Ti6321) and stainless steel (SS 310) joints are performed through friction stir welding. This investigation aims to identify the effect of process parameters on the mechanical behavior and microstructural characteristics of the FSW joints. Five plates are chosen; three are FSW joints, and two are kept in the original base material. In all five plates, tensile, microhardness, and wear tests are performed, including an analysis of grain size. It is observed that the similar Ti6321 joint with a 6 mm pin diameter, 60 mm transverse speed, 900 mm rotational speed, and a constant axial force of 1 KN exhibits a maximum microhardness of 362 HV and a tensile strength of 927 MPa when compared to other joints. The tribological properties are identified as varying load (10–50 N), sliding speed (1–5 m s−1), and a constant sliding distance (1000 m) on pin-on-disc apparatus. It reveals that welding parameters and tool diameter influence tribological characteristics. The surface morphology carried out by FE-SEM revealed that the HAZ is composed of acicular α. The increase in microhardness is higher in WC than in BM due to the uniform distribution of particles. The chemical composition and phases are analyzed using XRD.