The crystallization processes of mold fluxes for casting low-carbon (LC) and medium-carbon (MC) steels were investigated by using double hot thermocouple technology (DHTT) in this article. The results showed that the glass phase was first formed at the cold side thermocouple (CH-2), when the LC mold flux (mold flux for casting low-carbon steel) was exposed to the temperature gradient of 1773 K (1500 °C) to 1073 K (800 °C); then, the fine crystals were precipitated at the liquid/glass interface and grew toward glass and later on to liquid phase. However, the crystals were directly formed at CH-2 when MC flux (mold flux for casting medium-carbon steel) was under the same thermal gradient. The growth rate of MC flux crystals was much faster than that of LC ones. Scanning electron microscope (SEM) and X-ray energy dispersive spectroscopy (EDS) analyses suggested that the crystals formed in LC mold flux were mainly dendritic cuspidine Ca4Si2O7F2, and the crystals formed from the liquid phase were larger than those from the glass. For MC mold flux, the earlier precipitated crystals were large dendritic Ca4Si2O7F2, whereas the later ones were composed of equiaxed Ca2Al2SiO7 crystals. The results of DHTT measurements were consistent with the time-temperature-transformation (TTT) diagrams and X-ray diffraction (XRD) analysis.