The statistical correlation was applied to analyze the specific and quantitative correlation relationship between the solidification structure and central segregation along the casting direction in carbon steel billet. On this basis, the segregation formation mechanism of the solute element and related control strategy were investigated. It is found that the equiaxed crystal zone fluctuation along the casting direction determines the fluctuation degree of central segregation. At the same time, the central segregation at a certain position is mostly affected by the equiaxed crystal zone width at the hysteretic position. Moreover, the casting speed can influence the columnar to equiaxed transition (CET) fluctuation along the casting direction by affecting the flow of molten steel in the billet. Overall, the segregation mechanism of solute elements along the casting direction can be summarized into two aspects: First, with the growth of columnar crystals in the initial stage, the segregated solutes are continuously enriched and distributed in the equiaxed crystal zone after CET. The fluctuation of the equiaxed crystal zone will affect the distribution of the enriched solute in the billet and cause the fluctuation of the central segregation. Second, due to the solidification shrinkage at the end of solidification, the solute-enriched liquid phase at the hysteretic position is pumped to the solidification endpoint and forms the central V-shaped segregation. Meanwhile, the stable solidification structure (columnar crystal length or equiaxed crystal zone width) along the casting direction and control measures preceded equiaxed crystal zone formation are beneficial to reduce the central V-shaped segregation.