In response to the issues of high treatment costs and low utilization rates of sludge generated in the hot rolling process of steel enterprises, the technical idea of adding hot-rolled sludge to the sintering process in the form of a slurry is proposed, and the influence of different hot-rolled sludge ratios and particle size compositions on the granulation effect of sintered mixture and the quality index of sinter is studied. The results show that when the proportion of hot-rolled sludge increases from 0 to 0.5%, the proportion of >5 mm and 3~5 mm particle sizes increases significantly after mixture granulation, the proportion of <1 mm particle size decreases accordingly, the air permeability index (JPU) of the material layer increases, and both the pore particle size distribution and air permeability performance are improved. As the proportion of hot-rolled sludge increases from 0 to 0.35%, the yield of sinter, the utilization coefficient, and the solid energy consumption all show an improving trend. However, when the proportion further increases to 0.9%, the quality indicators decline. When the concentration of hot-rolled sludge slurry increases from 20% to 30%, the yield of sinter, the utilization coefficient, and the drum index show a decreasing trend, while the solid energy consumption increases. The research results can provide practical references for the efficient resource utilization of hot-rolled sludge.