AbstractLimestone is the most widely used agricultural input for soil acidity correction and calcium (Ca) and magnesium (Mg) fertilization. However, other materials have the potential to fulfill these purposes, such as steel slags, also known as silicates. Silicates have higher solubility than limestone, serving as agents for increase pH in no‐till, in addition to being a source of Ca, Mg, and silicon (Si). This study aimed to compare the effects of surface application of dolomitic lime and calcium magnesium silicate on soil chemical properties, soybean [Glycine max (L.) Merr.] nutritional status, and grain yield under no‐till. The experiment was installed in the northwest Paraná State, Brazil, on a Rhodic Eutrustox. Lime and silicate rates were applied by broadcasting before the sowing of soybean. Silicate treatment increases soil Ca2+, pH, and base saturation up to a depth of 0.10 m. By contrast, liming effects on soil chemistry were restricted to the 0.05 m top layer after 24 months of application. The acidity correction and Ca2+ supply to greater soil depths and the increased leaf Si as a beneficial element provided by silicate treatment contributed to increasing soybean yield in the 2018/2019 and 2019/2020 seasons. Lime application, regardless of the rate, did not improve soybean yield. Waste from the steel industry can be used as acidity correctives and source of Si, Ca, and Mg, improving the agronomic performance of soybean.