In this paper, the Fe-containing phases in BOF slag were identified before and after oxidized with atmospheric air. XRD and SEM with EDS results showed that The element Fe existed in slag in the form of calcium ferrite, wustite solid solution and hematite. Mg solid solute in wustite. After oxidized, magnetite became the major mineral phase in slag and Mg⁺ replace the Fe²⁺ of magnetite crystal to form spinel