In order to realize the effective welding of Fe/Al dissimilar metals, an induction rolling welding (IRW) method was proposed and an electromagnetic-thermal coupling numerical model was established. The results show that the influence range and peak value of the magnetic flux density on the steel side will increase with the increase of feed velocity. When the welding feed velocity is in a low level, resulting in an increase for the heat transfer time and the heat input, and the welding quality will decrease. When the welding feed velocity is in a high level, resulting in a decrease for heat transfer time and the heat input, and the welding quality will also decrease. When the power supply is 35 kW and the welding feed velocity is 1.0 mm/s, the temperature values of each temperature reference point tend to be balanced, and the heat source input is stable. The uniformity of temperature distribution increases first and then decreases with the increase of feed velocity and power supply. The temperature measured and the boundary shape of the aluminum alloy molten pool accord well with the numerical simulation results. The test results of shear properties show that the inductively rolled welding joint has good reliability.