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The decrease in mechanical properties of high-strength steel after welding is an important issue affecting the wide application of high-strength steel. Air-hardening steel is a high-strength steel suitable for lower body structural parts such as subframes. Its application process involves welding, hot forming and other processes. The present work investigates the microstructure and mechanical properties of the air-hardening steel laser welded joint that is air-cooled after hot forming in the two-phase zone (800 °C). The microstructure was characterized by electron backscattered diffraction (EBSD), scanning electron microscope (SEM) and transmission electron microscope (TEM). The results show that during hot forming, the welded joint transforms from martensite to ferrite and acicular martensite, and the base metal transforms from ferrite to polygonal martensite and ferrite. The difference in martensite morphology between the welded joint and the base metal is attributed to the nucleation positions of austenite. The structural evolution of the welded joint and the base metal is accompanied with the annihilation and reproduction of dislocations, which results in significant changes in hardness. The hardness value dropped from the highest 430 HV to 271 HV in the welded joint, while increased from the lowest 184 HV to 203 HV in the base metal. After hot forming, the tensile strength of the welded sample is reduced by only 36 MPa, and the total elongation is slightly decreased by about 1.5% compared with the unwelded sample. The welded joint and the base metal have similar plastic deformation capabilities, since the acicular martensite in the welded joint displays good plastic deformation ability, and the dislocation density of the welded joint and the base metal is similar. Overall, the microstructure and dislocation density of the air-hardening steel welded joint after hot forming are similar to those of the base metal, which is responsible for the good mechanical properties of air-hardening steel welded joint. • The rules of microstructure evolution of welded joints during hot forming are proposed. • After hot forming, the strength and plasticity of the welded specimen are basically no loss compared with the unwelded specimen. [ABSTRACT FROM AUTHOR]