Thermodynamics for CaS bearing inclusions precipitation and their deformative behaviors during compact strip production (CSP) rolling process for Al-killed calcium treatment steel were researched using scanning electron microscopy (SEM) and energy dispersive spectroscopy (EDS) combined with the results of industrial trials. In addition, thermodynamic software FactSage was applied to calculate component activities of an inclusion and to analyze properties of sulfide-oxide duplex inclusions. It is possible for CaS bearing inclusion precipitation during secondary refining and continuous casting in two manners: the first is that Ca and S react directly after calcium treatment; the other is as the well modified calcium aluminates react with dissolved sulfur and aluminum in liquid steel. Correspondingly, two types of sulfide-oxide duplex inclusion were observed in casting slab. For the first type duplex inclusion, nearly no chemical reactions occur between outer CaS layer and solid inclusion core, thus the outer CaS rich layer is easily separated even taken off from the inner core during rolling process, and a crack may be generated correspondingly. The later one performs a better deformation during rolling process.