The disposal of steel slag leads to the occupation of large land areas, along with many environmental consequences, due to the release of poisonous substances into the water and soil. The use of steel slag in concrete as a sand-replacement material can assist in reducing its impacts on the environment and can be an alternative source of fine aggregates. This is the very first paper that seeks to experimentally investigate the cumulative effect of steel slag and polypropylene fibers, particularly on the impact resistance of concrete. Various concrete mixes were devised by substituting natural sand with steel slag at volumetric replacement ratios of 0%, 10%, 20%, 30%, and 40%, with and without fibers. Polypropylene fibers of 12 mm length were introduced into the steel slag concrete at 0%, 0.5%, and 1.0% by weight of cement as a reinforcing material. Performance evaluation of each mix through extensive experimental testing indicated that the use of steel slag as partial substitution of natural sand, up to a certain optimum replacement level of 30%, considerably improved the compressive strength, flexural strength, and tensile strength of the concrete by 20.4%, 23.8%, and 17.0%, respectively. Furthermore, the addition of polypropylene fibers to the steel slag concrete played a beneficial role in the improvement of strength characteristics, particularly the flexural strength and final drop weight impact energy, which had a maximum rise of 48.1% and 164%, correspondingly. Moreover, integral structure and analytical analyses have also been performed in this study to validate the experimental findings. The results obtained encourage the use of fiber-reinforced steel slag concrete (FRSLC) as a potential impact-resistant material considering the environmental advantages, with the suggested substitution, of an addition ratio of 30% and 1.0% for steel slag and polypropylene fibers, respectively.