The basic oxygen steelmaking (BOS) process produced over 70% of the global crude steel in 2018, [1] generating 100 to 150 kg of slag ("BOS slag") for every tonne of crude steel produced. BOS slag, a product of hot metal element (e.g., Si, Mn, Fe, P) oxidation and flux (e.g., lime, dolomite) dissolution, plays a critical role in the production of high-quality crude steel.All elements present in the hot metal charged in the BOS converter are thermodynamically very unstable with respect to their oxides when exposed to the oxygen jet at the BOS operating temperatures. Thus, carbon, silicon, manganese, phosphorus, and the iron itself all tend to oxidize very rapidly to form CO (or CO 2 ), SiO 2 , MnO, P 2 O 5 , and FeO (or Fe 2 O 3 ), respectively. In the BOS practice, large quantities of iron and silicon are initially oxidized to give a liquid, predominantly binary, FeO-SiO 2 slag, which floats on top of the metal pool. Usually lime (CaO) is rapidly added to "neutralize" this acid FeO-SiO 2 slag and produce a "basic" multicomponent FeO-SiO 2 -CaO-MnO-Al 2 O 3 -MgO-P 2 O 5 slag. This basic slag produces the correct partition of metalloids, particularly phosphorus, between the slag and metal and also protects the basic vessel lining (usually magnesite, MgO). Over the entire blowing period of the BOS process, this basic slag is emulsified with a large amount of gas bubbles and metal droplets, and the gas-slag-metal droplet reactions control the element transfer between the steel and slag (e.g., phosphorus removal and reversion) and subsequently the productivity and crude steel quality, which greatly attracts great interest from academics to understand the transient phenomena in the gas-BOS slag-metal droplet system. After completing its refining function in the BOS process, the hot BOS slag is poured into a slag pot. The BOS slag was considered a waste in old times but now as a secondary resource because it contains a large amount of thermal energy (temperature up to 1700 C), chemical energy (metallic and low-valence metallic oxides), and valuable materials (e.g., iron oxides).The behavior of BOS slag inside the BOS vessel, e.g., formation and reaction with gas and metal droplets, is still not clear and its recycling, including energy and material recovery, has always been challenging. This article introduces some BOS-slag-related research conducted by the present authors, in addition to a critical review of relevant research reported in the literature. It covers the topics of lime dissolution (slag formation), high-temperature-behavior interrogation through in situ observation, slag-metal droplet reaction mechanisms (spontaneous emulsification), and recovery of energy and materials from the molten BOS slag. This article aims to provide state-of-the-art understanding on relevant research topics and point out new research directions.