Abstract: Steel slag is a by-product of steelmaking process. The producing of steel slag in China is proximately 100 million tons, but the utilization ratio of comprehensive resources is the lower. This paper described the production and composition characteristics of steel slag, reviewed current situation and progress of resource utilization and stabilization of steel slag. Steel slag contains more free calcium oxide, which results in volume expansion and poor stability in the process of utilizing steel slag. The utilization of steel slag resource utilization can be divided into process reuse, preparation of ceramics, materials for environment treatment and building materials utilization, among which steel slag building material will be the most important way to utilizing steel slag, but the problem of poor stability of steel slag should be solved. The hot stifle technology has the advantages of good stability and short treatment time, which is the most used technology for steel slag stabilization.