Steel, a cornerstone of modern civilization and economic growth, has experienced exponential production growth, resulting in substantial carbon emissions owing to reliance on fossil-based reducing agents and fuels. Although conventional steelmaking methods have improved, achieving the climate targets outlined in the Paris Agreement requires the adoption of transformative technologies. This review examines potential green energy sources and their integration into the value chain of green steel production to address industry challenges. Electricity, hydrogen, and biocarbon have emerged as primary reducing agents and heating sources, enabling disruptive steelmaking processes. Pathways toward green steel remain constrained by the need to secure sustainable energy supplies, ensure high-grade iron ore availability, and advance energy-efficient technologies for integration into existing or new steelmaking processes. Emphasis is placed on a holistic approach to renewable energy usage and CO2 emission reduction. Future research directions and development priorities for achieving carbon-neutral steelmaking are outlined, with attention to systematically addressing hard-to-abate subprocesses and progressively decarbonizing the entire value chain of green steel production.