Mold fluxes having adaptable properties were developed in the laboratory to solve quality defects, such as depressions and longitudinal cracks when casting hypo-peritectic steel at high casting speed. Firstly, the effect of components on the high basicity mold flux properties was first studied using the orthogonal method. In the scope of the studied content, Li2O has the largest effect on the melting temperature, and the least effect on the viscosity; CaF2 has the largest effect on the viscosity, and the least effect on the melting temperature; Na2O and CaO/SiO2 have no obvious influence on the melting temperature and viscosity. Secondly, two powders (Z1 and Z6) have reasonable viscosity-temperature curves, higher solidification temperatures, and porous structure after solidification, but the crystal property of Z6 is worse than that of Z1, and thus Z1 is more suitable for continuous casting hypo-peritectic steel at high casting speed. Thirdly, a higher basicity of powder, a less free enthalpy of crystal compound, and a lower baffle energy are good for a higher tendentiousness of crystal.