In this article, a novel thermodynamic model—the molecular interaction volume model (MIVM)—was employed to predict the activities of three components in the ternary molten slag CaO-FeO-SiO2 at different temperatures. The results show that the predicted values of activity of CaO and SiO2 are in reasonable agreement with the experimental data in a range of lower concentrations, which are about xCaO<0.2 for CaO and about xSiO2=0.15 to 0.50 for SiO2 at 1823 K, respectively, and that the predicted values of activity of FeO are in good agreement with the experimental data in a range of entire concentrations at 1623, 1823, and 1873 K. This shows that MIVM is an alternative for the estimation of activity coefficients of all components in a ternary molten slag, where its activity data are absent or their accuracies are questionable only when its sub-binary activities are known and reasonably reliable.