Steelmaking slag and steel pickling waste liquor (SPWL) are two kinds of by-products in steel plants. The existence of phosphorus (P) in steelmaking slag is the main factor affecting its reuse within the steelmaking process. To remove P from steelmaking slag with a low-cost method, selective leaching was proposed by using SPWL as a leaching agent. SPWL generally contains a small amount of Fe3+ ions, and thus the effect of Fe3+ content in SPWL on the dissolution behavior (especially P element) of steelmaking slag was investigated, as well as the pH value and steelmaking slag type. The dissolution ratios of P from various slags in the SPWL containing 500 ppm Fe3+ exceeded 95 % at pH 1.5 while those of Fe, Mn, and Al were very low, exhibiting satisfied selective leaching of P. Increasing pH value and Fe3+ content (in SPWL) resulted in a decreasing P dissolution ratio while exerting an insignificant effect on the dissolution of other elements. The FeHPO4+ was predicted as the predominant species during leaching and the transformation of FeHPO4+ to FePO4 could be present. When the SPWL containing 800 ppm Fe3+ was used, FePO4 was observed in the residues after leaching at pH 2.0, resulting in a worse removal of P from slag. However, the residues including massive valuable components had an extremely low P content after leaching in the SPWL containing 500 ppm Fe3+ at pH 1.5, which can be used as a flux in the metallurgical process. To ensure a high P removal rate from steelmaking slag and to prevent FePO4 precipitation during leaching, a relatively low pH and Fe3+ content in the SPWL are necessary.