To enhance the slagging efficiency of the lime-based slag system during the pre-treatment stage of hot metal, a composite calcium ferrite flux based on aluminum industry solid waste was developed in this study. The melting characteristics of the flux and its application in the pre-treatment of hot metal were investigated. The results indicated that the main phases of the composite calcium ferrite were CaFeO, CaFeO, and Ca(Fe,Al)O. It exhibited high oxidation, high alkalinity, and a low melting point, thereby achieving excellent melting performance. Simulations of various dephosphorization fluxes in the pre-treatment of high-phosphorus hot metal, ordinary hot metal, and kilogram-scale dephosphorization experiment processes were conducted. Under the same experimental conditions, the composite calcium ferrite flux was able to achieve a dephosphorization rate of over 90% and a final phosphorus content of less than 0.02 wt% under high carbon content ([%C] = 3.2 wt%). In the application of hot metal pre-dephosphorization, this flux was able to achieve efficient melting and rapid slagging of lime at a lower temperature, and its slagging time was 50% faster than that of calcium ferrite flux. In addition, this flux enhanced the utilization efficiency of lime during the steelmaking process, effectively prevented the agglomeration of slag, and achieved efficient slag-metal separation. These characteristics were significantly better than the application effect of calcium ferrite flux. This flux has significant implications for the industrial application of deep dephosphorization in the pre-treatment stage of hot metal or the early stage of converter steelmaking.