The results of structural research of welded joints between pearlitic high-carbon steel and austenitic chrome-nickel steel obtained by contact welding are presented. As a result of the diffusion process and mechanical mixing of steels local alloyed areas surrounded by pearlitic colonies of high-carbon steel are formed in the transition zone of the weld. The transmission electron microscopy (TEM) has been employed. The formation of the austenitic-martensitic microstructure occurs due to reducing the amount of alloying elements in local areas as compared to the original austenitic chrome-nickel steel chemical composition. Both austenite and martensite have crystallographic characteristics with the following orientation relationships: [211] γ-Fe || [011] α-Fe; [11-1] γ-Fe || [-110] α-Fe. The presence of high-strength local regions in the transition area may lead to a significant reduction in сrack resistance of dissimilar steels welded joints.