A better understanding of phosphorus distribution in slag is necessary to develop an effective way to treat dephosphorization slag formed during steelmaking. Here, previous studies on the enrichment, separation, and recovery of phosphorus from dephosphorization slag are reviewed, along with their influencing factors. The results suggest that a proper heat treatment can promote the selective enrichment and growth of P-rich phases. Further, adding P2O5 and FetO facilitates phosphorus enrichment. Also, Ca3(PO4)2 is precipitated from slag containing 18 wt% P2O5. MnO and MgO in the slag barely affect the phosphorus recovery. In contrast, the addition of Al2O3 and TiO2 significantly affects phosphorus enrichment and magnetic separation. A phosphorus recovery rate of more than 70% is achieved with the addition of 10 wt% Al2O3 or 10 wt% TiO2. New phases (Na2Ca4(PO4)2SiO4, Na3PO4, and Ca5(PO4)3F) tend to be formed on the addition of Na2O and CaF2, which promote phosphorus enrichment. However, the addition of Na2O and CaF2 results in the incomplete separation of phosphorus and iron, as CaF2 and Na2O improve slag metallization and the magnetism of iron-rich phases.