•The characterization, applications, and performance of steel slag are addressed.•An approach of hardness and grindability is presented.•Expansive characteristics of steel slag and mitigation mechanisms are discussed.•Presence of toxic elements (Cr, Ni, V) is treated in environmental classification.•Durability parameters of cement-based composites with steel slag are portrayed. Steel slags are by-products generated in high volumes in the steel industry. Their main constituents are calcium, silicon, ferric, aluminum, and magnesium oxides. Larnite, alite, brownmillerite, and ferrite are also found. The presence of expansive compounds cause concern when used in cement-based composites; however, mitigating routes have been proposed. Activation techniques improve the binding properties of steel slag powder, potentiating its use as a supplementary cementitious material (SCM). As an aggregate, steel slag presents good morphological and mechanical properties. Promising mechanical and durability performances in cement-based composites encourage further research to promote the use of steel slag.