There are many types of hazardous wastes produced by iron and steel enterprises, and the composition of hazardous wastes is complex. At present, there is a lack of a universal disposal process, and the composition characteristics of hazardous waste are not clear, which increases the difficulty of disposal. By analyzing the sources and material composition of hazardous waste from steel enterprises, with a particular focus on the characteristics of the slag and fly ash produced from the incineration of iron-containing oily sludge. The results indicate that: 1) The hazardous waste from steel enterprises is mainly sludge, characterized by high iron content and high ash content, which is suitable for a low-temperature controlled oxygen incineration process. This process helps to reduce the agglomeration of kiln slag and retains some fixed carbon that can be used as supplementary fuel for sintering; 2) The slag from iron-containing oily sludge has a high iron (Fe) content, making it suitable as raw material for sintering ironmaking; 3) The fly ash from the incineration of iron-containing oily sludge has high contents of iron (Fe) and zinc oxide (ZnO). It can be treated by first undergoing a high-temperature de-zincification process, and then used as raw material for sintering ironmaking.