A process for thermal decomposition of methane to hydrogen and solid carbon is presented and examined. It utilizes the high-temperature heat from the slag by-product of blast furnace ironmaking to drive a thermal decomposition reaction, making it a waste-heat-to-hydrogen technology. This is accomplished via dry granulation of molten slag that feeds a fluidized bed reactor to effect methane–slag contact. First, the proposed process and the heat and mass balances are presented. It is found that it could produce an amount of hydrogen that is equivalent to about 20% of the reductant, depending on the iron-to-slag ratio. Then, a techno-economic analysis investigates the capital and operating costs of the process, compares the hydrogen production cost to that of other processes, and examines cost sensitivity to the prices of process inputs and outputs. This analysis suggests that the process would be suitable for on-site hydrogen production and use within a plant. In addition, using the hot slag to drive the methane decomposition would reduce hydrogen production cost by 15% compared to combusting a portion of the natural gas itself. Finally, a computational fluid dynamics (CFD) modeling study of the fluidized bed reactor examines the thermal decomposition of methane and its dependence on reaction kinetics as well as reactor design and operation. The bed operated in the bubbling regime at an average temperature between 1020 and 1060 °C and resulted in as high as 82% conversion of the methane to hydrogen, with additional optimization still possible.Graphical