Abstract: Steel slag is a bulk solid waste produced in the steelmaking process with a huge output but low comprehensive utilization rate leading to great resource waste and environmental pollution. With the widespread attention to steel slag recovery and the innovative development of related technologies, researchers have carried out extensive studies on the separation, recovery, high-value and green utilization of valuable elements in steel slag and remarkable progress has been achieved in both theoretical research and related process technologies. This paper sorts out the research achievement on the extraction and separation of phosphorus and iron from steel slag at home and abroad in recent years. Firstly, it introduces the occurrence form and distribution characteristics of phosphorus and iron in steel slag, reviews the research status of the separation, extraction and reuse of phosphorus and iron from converter steel slag, analyzes the principles, characteristics and application scope of different technologies, discusses the influence of technical parameters such as temperature and steel slag particle size on the separation and recovery effect, and indentifies the key problems restricting the popularization and application of various technologies. The extraction methods of phosphorus from steel slag are mainly divided into chemical leaching, physical separation (magnetic separation, flotation) and biological leaching. The extraction methods of iron are divided into magnetic separation method and reduction method. Through the summary and comparison of recycling technologies, recovery efficiency, cost control and pollution control are the core problems restricting the resource recovery of phosphorus and iron from steel slag at present. Finally, the future development direction of related technologies is prospected, which provides theoretical and technical reference for the full recovery and high-value utilization of steel slag and promotes the high-quality and sustainable development of the iron and steel industry.