This manuscript aims to investigate the welding characteristics, bead profile, structural integrity and corrosion behavior of low-carbon steel and Monel grade 400 dissimilar joints. The structures were developed using advanced welding technique, gas tungsten constricted arc welding, with Mo-based filler wire. Dissimilar metals after welding have been tested for internal inspection using X-ray radiography and confirmed to be free from all welding defects. Corrosion tests were carried out at various zones of weldment and characterized in a 3.5 wt% NaCl solution at 10 mV/s scan rate. The welding characteristics have been studied by conducting various tests including Vickers hardness, tensile and impact test. To reveal the structural integrity and perform chemical composition analysis of constricted arc weldment, OM/SEM techniques were used. Corrosion rate at steel interface is lower than that at the Monel 400 interface by 9.7% due to the less accumulation of heat. Uniform grain distribution and structural homogeneity were also observed along the weld zone due to constricted arc and controlled heat input.