Steel slag selected as coarse aggregate and limestone as fine aggregate and the SBS modified asphalt were used to prepare open graded steel slag asphalt mixture（OGFC 16）. When the asphalt content is optimum, the run off loss and Cantabro scattering loss meet Chinese regulatory requirements. The results of Marshall stability and splitting strength test show that the Marshall stability of OGFC 16 reaches 86kN, dynamic stability reaches 3316, and tensile strength ratio is 835%. The water permeability coefficient of OGFC 16 is 412 and the rutting friction coefficient is 707, which means that OGFC 16 has a strong water seepage and an excellence wear resistant performance. In a word, OGFC 16 can guarantee the driving security of long term use for road and save a lot of road maintenance costs.