In this work, Friction Stir Welding (FSW) of magnesium alloy ME21 in a T-profile is performed with a relatively higher welding speed than usual in this material. The FSW process parameters, i.e., rotational speed and welding speed, are investigated focused within its inherent microstructural and mechanical properties on the stir zones of the welded joints. The concept of a Stribeck Curve in tribological systems, is transferred to FSW to explain the transition between insufficient and full plasticization of the material. The stir zone presented a strong grain refinement due to the activation of dynamic recrystallization along with a completely changed crystallographic texture and orientation due to FSW. The hardness is overall improved, while the ductility and tensile strength were reduced. The microstructure and texture in the stir zone were not strongly influenced by changes in the welding parameters.