This paper presents the results of a study on the microstructural and microchemical variations in a multipass Gas Tungsten Arc weld (GTAW) of modified 9Cr-1Mo steel. The changes brought about in the steel due to the heating and cooling cycles during welding and the subsequent effects due to reheating effects during multipass welding are described. Detailed analytical transmission electron microscopy has been carried to study the type and composition of the primary and secondary phases in this steel. The systematic changes in microstructural parameters such as Prior Austenite Grain Size, martensite lath size, number density, size and microchemistry of carbides, have been understood based on the different transformations that the steel undergoes during the heating and cooling process. Based on the observed microstructure, an attempt has been made to identify distinct microstructural. zones and possible thermal cycles experienced by different regions of the weldment.