In this paper, bimetallic functionally graded structures were fabricated using wire and arc additive manufacturing (WAAM). The bimetallic walls were built by depositing Si-Bronze and high-strength low-alloy (HSLA) steel, successively. The microstructural evolution of the built structures, especially within the fusion zone between the dissimilar alloys, was investigated in relation to their mechanical properties. The built bimetallic walls showed a high level of integrity. An overall interface length of 9 mm was investigated for microstructural evolution, elemental mapping and microhardness measurements along the building direction. Microhardness profiles showed a gradual transition in hardness passing through the diffusion zone with no evidence for intermetallic compounds. Failure of the tensile specimens occurred at the Si-Bronze region, as expected. Bending tests confirmed good ductility of the joint between the dissimilar alloys. Direct shear test results proved a shear strength comparable to that of HSLA steel. The obtained results confirm that it is appropriate to fabricate HSLA steel/Si-Bronze FGMs using WAAM technology.