As the majority of industrial processes, siderurgy activities generate large amounts of residues. The siderurgic slags, byproducts of steel production have chemical characteristics that indicate their possible use in agriculture, as liming materials and sources of some plant nutrients. However, they may enclose undesired components, like heavy metals, which may result in situations of environmental hazard. In order to evaluate the effect on soil chemical properties and heavy metals accumulation in the soil by the application of steel basic slag, an experiment was carried out in soil columns (Typic Paleudult; 10 dm3/column soil volume), under natural rainfall conditions, in a completely randomized design with four replications. Soil treatments based on the liming rate do achieve pH 6,5 by the SMP method were: T1) Control; T2) CaCO3+MgCO3 (neutralizing value - PN 100%); T3) Treat. 2 + NPK fertilizers; T4) Slag - 1 x rate (particles < 0,149 mm e PN 60%); T5) Treat. 4 + NPK; T6) Slag - 2 x rate (1/3 particles < 0,149 mm e 2/3 particles 0,149 – 0,5 mm) + NPK; T7) Treat. 4 + N fertilizer; T8) Slag - 5 x rate (particles 0,5 – 2,0 mm) + Treat. 3; T9) Slag - 10 x rate (particles 2,0 – 15,0 mm) + Treat. 3. At equivalent rates both slag and carbonate increased similarly the values of pH, effective CEC and bases saturation in the soil. These attributes were higher for the treatments with slag at higher rates and larger particle size denoting the reactivity of the coarse factions. Among the analyzed metals, only Mn, Cr and Ni at higher slag rates (2, 5 and 10 x) increased in the soil to values significantly higher than the control and carbonate treatments. The results show that the used scoria is efficient as liming material and that it is not expected to provide excessive heavy metals accumulation when applied at rates to rise pH value up to 6,5 in soils with similar characteristics to that of this study. In summary, the slag exhibited a high potential for Ph corrections in soil.