The δ→γ phase transformation in the steel was studied in detail, and the relationship between δ→γ phase transformation and the crack formation in continuous casting slabs was discussed as well. The results indicate that the micropores are formed at the positions where δ-phase transformation terminates during the δ→γ phase transformation for low-carbon non-peritectic steel. The micropores will also be formed at the positions where the peritectic reaction of the steel terminates, then the pores are remained on the grain boundary of γ-phase when γ-phase becomes granulated. The micropores distributing on the grain boundary of γ-phase is one of the results for the crack formation of continuous casting slabs and the obvious plasticity decrease of δ-phase zone in the steel. The theoretical analysis results are basically consistent with the experimental results.