<p>Basic oxygen furnace slag (BOFS) continues to be an enormous waste product of the steel industry with very low recycling rates. Due to the potential contained value, particularly iron and calcium silicate minerals, there remains interest in discovering high value-added recycling methods. This study expands on previous works studying H₂ reduction and magnetic separation of BOFS for valorization through the formation and extraction of metallic iron and calcium silicate minerals. The proposed method achieves a maximum degree of reduction of 94% and metallization of 82% at temperatures of  ≥ 1000°C. The proposed magnetic separation process results in a magnetic concentrate with Fe recovery and grade of 53.0% and 71.6%, respectively, with a 250 gauss field strength. This method shows very high degree of reduction and metallization and achieves magnetic concentrates with Fe grade above previously reported values for similar gas-based methods. As compared to previous studies, the proposed method is relatively less energy and resource intensive, as it utilizes larger particle size and lower H₂ vol% reduction gas, reduction time, and magnetic field strength. The iron content and metallization of the magnetic concentrate are approaching those of low-grade direct reduction iron product with the potential for use in the electric smelting processes. The non-magnetic tailings have a dicalcium silicate content of 37.4% and have potential for use as a valuable supplementary cementitious material. The work provides fundamental technical support for an emissions-free valorization method applicable for unmodified stockpile BOFS.</p> Graphical Abstract <p></p>