The interfacial reactions of Sn–2.0Ag–2.5Zn solder on Cu and Ni–W substrates after soldering and subsequent aging have been investigated in this study. Ni–W alloy layers with tungsten content of 3.0 and 10.0 at.% were electrodeposited on copper substrate. The interfacial micrographs of solder joints prepared at 250 °C for 15 s and aged at 150 °C for 24, 96 and 216 h are shown. Double-layer IMC composed of Cu5Zn8 and Ag3Sn was observed at the interface of Sn–2Ag–2.5Zn and Cu couple, which was compact and acted as a barrier layer to confine the further growth of Cu–Sn IMC. On Ni–W barrier layer, a thin Ni3Sn4 film appeared between the solder and Ni–W layer, whose thickness decreases with the increase of W content. During the aging process, a thin layer of the Ni–W substrate transforms into an amorphous bright layer, and the thickness of amorphous layer increased as aging time extended. Referring to the elemental line-distribution and the thickness of different layers at the interface, the formation of the bright layer is caused by the fast diffusion of Sn into Ni–W layer.