The low-temperature fracture toughness of double-V weld seams is a well-known challenge due to the essential increased heat input for heavy-wall pipelines. A thorough investigation was conducted to explore the impact of the heat input on the grain size and precipitate coarsening, correlating the microstructure with the heat-affected-zone (HAZ) toughness. The results indicated that the actual weldments showed a toughness transition zone at −20 °C, with considerable scattering in Charpy V-notch (CVN) tests. Gleeble thermal simulations confirmed the decreased toughness of the coarse-grained HAZ (CGHAZ) with increasing heat input and prior austenite grain size (PAGS). A specially designed thermal treatment demonstrated its potential for enhancing the toughness of the CGHAZ, with the recommended thermal cycle involving peak temperatures of 700 and 800 °C, holding for 1 s, and rapid cooling. The toughness of the intercritically reheated CGHAZ (ICCGHAZ) improved with higher intercritical reheating temperatures and the removal of necklace-type M–A constituents along the PAG. Despite various thermal treatments, no significant improvements were observed in the toughness of the ICCGHAZ. Future work was suggested for optimising the use of tack welds to reduce the effective heat input (HI) associated with double-sided submerged arc welding (SAW).