In the current study, a two-dimensional mathematical model was applied to investigate the slag lubrication in continuous casting mold of slab through the acquisition of the average slag consumption per oscillation cycle and the shear stress acting on the shell. The thickness and the consumption of the slag in the shell/mold gap and the downward velocity on either side of the liquid slag were monitored at different distances below meniscus and compared with different casting parameters. With the increase of the distance below meniscus from 10 to 300 mm, the thickness of the total slag and the liquid slag decreased, and thickness was within 0.78 to 1.11 and 0.04 to 0.33 mm, respectively. The average slag consumption at four different locations below meniscus was approximate, within 0.0287 to 0.0298 kg/s in three adjacent oscillation cycles. With enough slag consumption, the shear stress was extremely small and was below 80 Pa at 100 and 300 mm below meniscus. With the decrease of the casting speed from 1.6 to 1.2 m/min, the casting superheat from 45 to 25 K and the oscillation frequency from 180 to 100 cpm, and the increase of the oscillation amplitude from 2 to 5 mm, the average slag consumption per ton of steel and the slag consumption (kg/m2) increased, and the consumption was within 0.0245 to 0.0415 kg/s and mainly below 0.40 kg/m2, respectively, which resulted in the improvement of the lubrication in the shell/mold gap.