Glass‐ceramics with high performance and high crystallinity was produced using rare earth blast furnace slag (REBFS) as the primary raw material, along with composite nucleating agents Fe2O3 and Cr2O3. The migration pattern, distribution characteristics, and solidification properties of heavy metals in glass‐ceramics were investigated by the controlled heat treatment. The findings indicated that the heat treatment temperature has a significant effect on the distribution and color of heavy metals in glass‐ceramic. In the crystallized glass‐ceramic, spinel acts as the crystal core for heavy metal solidification, Cr, Cu, and Mn can exist stably in the spinel by the solid solution. The glass‐ceramic was expected to be used as a decorative building material.