The paper aims at understanding solidification phenomena and solid state precipitations during dissimilar transient liquid phase bonding of γ-TiAl intermetallic compound to IN718 Ni-based superalloy using a quinary Ni–7Cr–3Fe–4.5Si–3.2B (wt%) filler metal. The mechanisms of intermetallic formation via solidification and solid state reactions are discussed. The joint is featured by the formation of Ni-rich solid solution in an isothermal solidification zone near to IN718, Ni-rich solid solution and isostructural binary phases solid solution designated as Al1-xNi3Six in an isothermal solidification zone near to TiAl, boride/silicide and boro-silicide formation during binary and ternary eutectic-type solidification in an athermal solidification zone, fine nickel silicide precipitation during cooling in the joint centerline, and in-situ precipitation of Cr–Mo–Nb rich borides in a diffusion affected zone. On the other hand, Ni from the filler metal reacted with γ-TiAl base metal, leading to the formation of Ti2Ni, τ2-Al2TiNi and τ4-AlNi2Ti compounds on the reaction layer adjacent to TiAl substrate. The evaluation of different zones of the bond region showed that some brittle phases with high hardness are formed in the bond region. It was identified that the presence of the eutectic gamma solid solution between boride phases within the joint centerline can decrease the detrimental effect of the intermetallic phases on the joint toughness.