Inertia friction welding (IFW) was used to join large-diameter hollow bars made of Inconel 690 and 316LN successfully. The interfacial characteristics, microstructure, mechanical properties and fracture mechanism of welded joints under different process parameters were investigated. The results indicated that a joining mechanism with mechanical interlocking and metallurgical bonding was found in IFW joints. There was a significant mechanical mixing zone at the welding interface. The elemental diffusion layer was found in the "wrinkles" of the mechanical mixing zone. A tiny quantity of C elements accumulated on the friction and secondary friction surfaces. The tensile strength and impact toughness of the joints increased with the total welding energy input. Increasing the friction pressure could make the grain in all parts of the joint uniformly refined, thus enhancing the mechanical properties of welded joints. The maximum tensile strength and impact toughness of the welded joint were 639 MPa and 146 J/cm2, reaching 94% and 68% of that for Inconel 690, respectively, when the flywheel was initially set at 760 rpm, 200 MPa for friction pressure, and 388 kg/m2 for rotary inertia. Due to the Kirkendall effect in the welded joint, superior metallurgical bonding was at the welding interface close to the Inconel 690 side compared to the 316LN side.