Abstract: The use of strong magnetic fields to regulate microstructures during solid phase transformations in metals has gained significant attention owing to its considerable potential for enhancing mechanical properties of materials. In this paper, the influencing mechanisms of strong magnetic fields on solid phase transformations in steel are introduced, the influences of strong magnetic fields on transformations of martensite, bainite, pearlyte and carbide precipitation are reviewed, and the insights and recommendations for future research directions concerning the application of strong magnetic fields in steel processing are put up. These contributions are intended to foster new advancements and innovations in the development of novel high-performance steel.