•Carbonation pathways and carbon capture mechanisms of steel-making slags were summarized.•Effects of carbonation pathways on the carbonation capacity of steel-making slags were evaluated.•Carbonation products obtained from different carbonation pathways were analyzed and compared.•Scale-up applications and main challenges of steel-making slags carbonation technology are summarized and prospected. With the rapid development of economy and industrialization, the consumption of natural resources has risen sharply. A large number of greenhouse gases and industrial solid waste emissions have exacerbated global warming, resulting in a series of environmental degradation problems. Using natural minerals or industrial solid waste for carbon dioxide capture and utilization (CCU) is considered to be a feasible and promising technology. From the perspective of circular economy, steel-making slag as carbon dioxide storage material has great economic and environmental value. This paper summarized the main carbonation pathways and carbon capture mechanisms of industrial solid wastes. The carbonation processes of the most representative solid waste of steel-making slags were compared, the effects of different carbonation pathways on the carbonation capacity of steel-making slags were evaluated, and the characteristics of carbonation products obtained from different carbonation pathways were also compared. In addition, the industrial application status of carbon dioxide carbonation technology of steel-making slags was analyzed, and the main challenges it faces were summarized and prospected. We hope that this review can attract extensive attention of scholars and promote the further development of carbon dioxide storage technology by mineralization of steel-making slag.