The technology of in situ immobilization with amendments is an important measure that remediates the soil contaminated by heavy metal, and selecting economical and effective modifier is the key. The effects and mechanism of steel slag, the silicon-rich alkaline by-product which can remediate acidic soil contaminated by heavy metal, are mainly introduced in this paper to provide theory inferences for future research. Firstly, the paper analyzes current research situation of in situ immobilization with amendments. Then, it introduces the main physicochemical properties of steel slag, and the effect on soil pH value as well as heavy metal activity. Besides, the paper elaborates the promoting effect on silicon-requiring plant and the strengthening mechanism for its resistant capability of heavy metal. According to the analysis, the application of steel slag could be a potential valuable strategy to remediate acidic soil contaminated by heavy metal by modifying the transformation of heavy metal in both soil and plant, so that the translocation of heavy metal in food chain is reduced.