In order to apply and develop fluorine‐free slag in steelmaking, it is of great significance to study the effect of composition for fluorine‐free refining slag on the cleanliness of molten steel which affects its performance directly. The effect of composition of fluorine‐free refining slag with medium and high basicity on the contents of impurity elements for sulfur and oxygen, and characteristics of inclusions in SWRS82B hard wire steel, are investigated systematically. Sulfide capacity of refining slag is estimated based on the Royal Swedish Institute of Technology model. Dissolved oxygen content in molten steel equilibrated by refining slag is calculated based on Factsage software and classical thermodynamics. The calculated results are in good agreement with experimental results. The plasticity of inclusions at high temperature and low temperature is analyzed by phase diagram and Young's modulus calculation. The best cleanliness and inclusions of SWRS82B steel are obtained with slag composition of 53%CaO–19%SiO2–19%Al2O3–7%MgO, which has good melting characteristics. The impurity elements sulfur and oxygen in steel can be controlled for 26 and 19 ppm, respectively, and the average size of inclusions is 2.84 μm.