Si–O deoxidation equilibria in liquid steel are not reliably known, especially in the high silicon concentration range. Herein, Si–O deoxidation equilibria in liquid steel at 1823–1873 K have been investigated for a wide range of silicon concentrations. Thermodynamic analysis was carried out using Wagner's interaction parameter formalism (WIPF) and FactSage 8.1. The first and second‐order cross‐interaction parameters estimated at 1873 K are as follows: , , . Moreover, nonmetallic inclusion characteristics were also investigated for varying silicon concentrations.