High content amorphous phase blast furnace slag beads were prepared by gas quenching blast furnace slag (BFS), which could not only avoid a series of environmental problems caused by traditional water quenching methods, but also significantly increase the added value of BFS subsequent products. In this paper, the granulation mechanism of BFS and the amorphous phase formation mechanism of slag beads were studied by combining the physical properties of BFS and the granulation effect. The results showed that the viscosity of BFS decreased with the increase of basicity; the bigger the basicity, the higher the bead formation rate, the smaller the particle size and the more regular the slag shape. The smaller the basicity, the greater the crystallization activation energy and the smaller the Avrami exponent, which indicated that the crystal was more difficult to nucleate and grow. The increase of the cooling rate could effectively inhibit crystal precipitation. Therefore, the high basicity and cooling rate could not only guarantee the high bead formation rate of BFS, but also ensure the high content amorphous phase of slag beads.