The purpose of this study is to analyze thermal cycles and to investigate microstructures of heat affected zones for a low alloy carbon steel pipe under a multipass weld. The commercial finite element code SYSWELD is used to compute thermal cycles during multipass weld. The numerical results such as thermal cycles and size of heat affected zone are compared with those of the experiment and the two results show a good agreement. In addition, the microstructure and hardness are investigated from the weldment in detail. The weakest location is founded at intercritical region near the base metal.