Electric arc furnace (EAF) steelmaking process is an environmentally friendly, energy saving, and low-carbon route to produce steel, but its further development is restricted by extensive electricity consumption in China. In this paper, the EAF steelmaking processes driven by solar energy system (EAF-SES) was developed, which supplies electricity for the whole process, and reduce the dependence on traditional energy sources. Life cycle assessment and techno-economic analysis of EAF steelmaking processes integrated with traditional energy system (EAF-TES) and EAF-SES was conducted according to the data of 1536 heats based on the function unit of 1000 kg of molten steel (MS). EAF-SES and EAF-TES were studied and compared from perspectives of life cycle carbon footprint (LCCF), production cost (PC), raw materials cost (RMC), solar energy price (SEP), and carbon tax (CT). The results indicated that EAF-SES enjoyed lower LCCF but higher PC than EAF-TES. The LCCF of EAF-SES was 220 kg lower than that of EAF-TES. Besides, compared to the PC of 478 $ per ton of MS in EAF-TES, the PC in EAF-SES increased by 9.13%. While the electricity price was lower than 0.041 $/kWh or CT higher than 217 $/t CO2, respectively, EAF-SES had both significant advantages of economic and environmental benefits. Vigorously employing clean energy power generation, cutting down hot metal supply, and adopting full scrap melting mode in EAF steelmaking processes achieve better environmental performance. This research is expected to supply a technical idea for energy conservation, emission reduction, and cleaner production in future iron and steel industry.