Abstract Press-hardened steel (PHS), characterized by its extremely high strength, has wide applications in vehicle body manufacturing as an innovative lightweight material. Nevertheless, the poor weldability of PHS results in poor weld toughness and a high risk of interfacial fracture (IF), posing challenges to the resistance spot welding (RSW) process. Introducing an external magnetic field in the welding process to perform electromagnetic stirring (EMS), the magnetically assisted RSW (MA-RSW) process has been proven an effective method to improve the weld toughness of high-strength steel, but it may increase the risk of expulsion. In response to these challenges, this study introduces a new process called SPMA-RSW to improve the weldability of PHS by combining MA-RSW and the stepped-current pulses (SP) technique, which can enlarge the weld lobe. Nugget appearance, microstructure, microhardness, and mechanical properties were systematically investigated by comparing traditional RSW, MA-RSW, SP-RSW, and SPMA-RSW. The result showed that the SPMA-RSW process would significantly increase the nugget size, inhibit the shrinkage voids, finer the grain size of PHS welds, and harden the nugget region. This increased the lap-shear strength and changed the fracture mode from brittle IF mode to ductile plug fracture (PF) mode at the same heat input. Specifically, the peak load and energy absorption were increased by 32.3% and 84.2%, respectively. Then, an analytical model was developed to reveal the mechanism of the effect of EMS on the fracture mode transition and was verified by experiment. This work can help improve the weld quality and thermal efficiency of the RSW process for PHS.