In this work, a weighted density functional theory has been used to study the equilibrium and metastable processes for argon. In the theoretical approach, the two- and three-body interactions of the fluid molecules are considered simultaneously, and the renormalization group transformation is applied to address the long-range fluctuations inside the critical region. The global phase equilibria, planar and curvature-dependent surface tensions, critical radius, and nucleation rates of argon are investigated systematically. The results are in good agreement with the experimental data. Meanwhile, this work applies a methodology for calculating the curved surface tension in local supersaturated environments, showing that the Tolman length is negligible far from the critical region. Near the critical point, however, the Tolman length becomes positive and appears to diverge.