Converter slag is discharged as by-product from steel making process. Its chemical composition is similar to that of blast furnace slag. Therefore its recyclability is high. But actually it was not widely recycled relatively. We studied to prepare insulating brick with it for enhancing the recyclability. We discussed mixing ratio of melting slag and converter slag and also additional amounts of Al-dross and NaOH as affecting factors. According to our results, 0.195 W/mK of thermal conductivity and 3.02 MPa of compressive strength were obtained at the following condition mixing ratio 60 : 40, aluminum dross 1.5wt%, NaOH 5.6wt%. It seemed that the thermal conductivity of prepared brick was decreased with increasing amount of Al-dross and NaOH. It is satisfied with the standard of insulating fire bricks (KS L3301).