To improve the cleanliness of oriented silicon steel, industrial experiments are performed under different refining slag composition conditions. The results show that the use of medium‐basicity refining slag (w(CaO)/w(SiO2) = 2.3–2.6, w(CaO)/w(Al2O3) = 2.3–2.6) results in higher steel cleanliness with lower Al2O3 volume fraction, and smaller inclusions. In addition, the thermodynamic equilibrium between the oriented silicon steel slag and the molten steel is investigated at a temperature of 1873 K (1600 °C) to understand the effect of different slag compositions on the oxygen content and Al2O3 absorption capacity. Furthermore, a mathematical model is introduced to describe the behavior of inclusions at the steel–slag interface as well as to predict the removal of oxide inclusions during the slag‐refining process. The experimental and predicted results for inclusion removal after slag refining are in good agreement.