This review examines in full the use of carbonate steel slag CSS in concrete through combining results from the literature and experimental studies to assess its performance, sustainability and durability. As a by-product of steel production, steel slag is generated in large quantities, posing environmental problems as a result of inadequate disposal and leaching of hazardous materials. Concurrently, the use of Portland cement in the construction sector is a major contributor to CO2 emissions at global levels. Owing to its chemical similarity to cementitious materials, steel slag has shown that it possesses good potential as a partial replacement for cement or natural aggregates. However, its high content of free lime and magnesia may cause serious durability problems when used directly as a binder or aggregate substitute. To overcome this limitation, carbonation treatment has become an effective and validated treatment. Through the process of carbonation, the active phases of free CaO and MgO in steel slag can be transformed to stable CaCO3 and MgCO3, respectively. Utilizing CSS has several advantages, such as volume stability, lower leaching of heavy metals, improved mechanical performance and resistance to chemical and chloride-caused corrosion. However, the transformation not only improves the stability and usability of the material, but it also enables sequestration of CO2 through mineralization, which is a part of the emission reduction efforts. The present study focuses on the physico-chemical characteristics of steel slag, the carbonation behavior, the key parameters that affect the carbonation efficiency, and the possible applications of carbonated slag. Moreover, research gaps and future directions of development of steel slag carbonation are discussed.