A gas quenching process to deal with steel slag and its characteristics of the new technology was briefly introduced. The grinding characteristics, mineral phases of gas quenching steel slag and the potential economic benefits of using it as cement mixing material was studied by compared to heat-stew steel slag. The results indicated that the specific surface areas (S) and grinding times (t) of the gas quenching steel slag showed a first order exponential decay relationship. With the extension of time, the specific surface areas of heat-stew steel slag was tending to balance earlier than that of gas quenching steel slag; The energy consumption of gas quenching steel slag was much lower than that of heat-stew steel slag. Gas quenching steel slag was comprised of C2S, C3S, a certain amount of (Ca2(Al, Fe)2O5）and RO phase, but the content of RO phase was relatively low, which increased the grindability of the quenching steel slag, so that the grindability of gas quenching steel slag was much better than that of heat-stew steel slag. Gas quenching steel slag prepared for cement addictives would bring great economic benefits.