The sinter-bonding method was used to produce AISI 316L/17-4 PH components by conventional powder metallurgy technology. The production process consisted of following steps: the powder layering, co-pressing and co-sintering processes. The co-sintering process was carried out at different sintering temperatures (1200, 1250 and 1300 °C), and times (60, 90 and 120 min) in hydrogen atmosphere. The effect of co-pressing and co-sintering conditions on the ability to create a permanent connection between AISI 316L and 17-4 PH stainless steels was investigated. The densification, dimensional change and microstructural evolution of sintered AISI 316L/17-4 PH components were studied. The increase in co-pressing pressure as well as using of the longer time and the higher temperature of co-sintering process contributed to increase in AISI 316L/17-4 PH component density. The dilatometric study as well as dimensional changes measurements revealed an appropriate sintering compatibility for AISI 316L and 17-4PH steels when the sintering process was carried out at the temperature of 1200 °C for time ranging from 60 to 120 min and at 1250 °C for shorter sintering times. The sintering at temperature of 1300 °C (regardless of other manufacturing conditions) led to a significant deviation from the cylindrical shape of samples, as a result of difference of shrinkage of AISI 316L and 17-4 PH steels. Microstructural study indicated that AISI 316L and 17-4 PH steels creates a good diffusion joint (without any cracks and warpage) during the high-temperature sintering process. Nickel diffusion takes place from the AISI 316L to 17-4 PH stainless steel, and copper and molybdenum diffuse in opposite direction of nickel diffusion. It is possible to achieve a solid connection between two materials exhibiting difference in chemical composition by using sinter-bonding and conventional powder metallurgy technology.