The invention provides ladle furnace low alkalinity slag refining process. According to the process, bottom blowing of argon to ladles is carried out in the whole course of steel making and tapping, and ferrosilicon, silicon-calcium-barium and high carbon ferromanganese are sequentially added into the ladles for deoxidation and alloying; under the condition that argon flow is 30 to 50 NL/min, argon is blown to the liquid steel for two to three minutes, electrodes are inserted to melt slag, and the slag is modified; the liquid steel is heated to a temperature of 1580 to 1600 DEG C, and alkalinity of the slag is controlled to be 0.8 to 1.3; under the condition that argon flow is 20 to 30 NL/min, argon is blown to the liquid steel for 25 to 30 minutes, and components of the slag are controlled. Therefore, compound inclusion particles with a low melting point and good plastic deformation are formed in the liquid steel and float upward rapidly, which is beneficial for effective removal of inclusions in the liquid steel, thereby substantially improving cleanliness of the liquid steel, obviously enhancing quality of billets, enabling defects of billets like looseness, cracks, segregationand non-metallic inclusions to be greatly reduced, the content of micro inclusions, especially inclusions of B type oxides and D type oxides, in steel products to be substantially reduced and the steel products to meet subsequent processing requirements of 70 high carbon steel wires and 60 Si2Mn spring steel.