In this research, microstructural characterization and mechanical properties of 9%Cr, 0.4%Ni (including W and Mo) steel weld metal with alloyed cobalt were investigated. Due to their strong creep resistance, oxidation resistance, and low thermal expansion, 9%Cr steels are used in nuclear power plants, petrochemical industries, and fossil fuel-powered power plants that operate in high temperature conditions. In this context, weld metals comprising 0.5 %, 1 % and 1.5 % cobalt and cobalt-free weld metal were produced by SMAW (shielded metal arc welding) technique. Microstructure of the weld metals were characterized with optical microscope (OM), scanning electron microscopy (SEM) and electron backscatter diffraction (EBSD). Also, XRD analysis was performed on the bulk samples and precipitated carbide/nitride phases extracted from the weld metals. In addition, differential scanning calorimetry (DSC) was used to determine the phase transformations. Thermo-Calc modeling study was also performed. Hardness, tensile and Charpy-V impact tests were carried out to determine the mechanical properties. The hardness did not change significantly when cobalt up to 1.5 % in the weld metal. However, with the increase of cobalt, the yield and tensile strength increased without affecting the elongation value too much. In the Charpy impact tests performed at different temperatures (−40 °C, −20 °C, +20 °C, +40 °C, +60 °C), the amount of cobalt increased toughness, especially at +40 and + 60oC temperatures. Ductile brittle transformation temperature (DBTT) of the weld metal with 1.5 % Co decreased from 29 °C to 15 °C compared to cobalt free weld metal. It is thought that this may be caused by the further separation of C, Cr and W from the matrix through forming precipitate by the cobalt effect. Besides the mechanical properties, microstructure was also affected by adding Co with inhibition of delta ferrite formation which decrease the toughness. Curie temperature increased with increasing cobalt content detected by DSC.