Abstract: The hook formation mechanism in continuously cast slabs of ultra-low carbon steel was analyzed in detail through numerical calculations and experimental observations using optical microscopy, and its distribution characteristics were determined. Numerical simulations confirmed that the freezing–overflow mechanism is the primary cause of hook formation. They also revealed that the freezing event occurs unpredictably, while the overflow event takes place during the positive strip time. The average pitch of oscillation marks (OMs) on the slab surface was 8.693 mm, while the theoretical pitch was 8.889 mm, with a difference of approximately 2%. This discrepancy primarily results from varying degrees of overflow, which affects the morphology of the OMs and the positions of their deepest points. Notably, this result further confirmed that the freezing and overflow in the meniscus were indeed caused by the periodic oscillation of the mold. Higher superheat hindered hook formation, leading to a negative correlation between the hook depth distribution around the slab and the temperature distribution within the mold. Therefore, the depth of the corner hook was greater than that of other positions, which was caused by the intensified cooling effect of the corner. Moreover, key factors influencing hook development were analyzed, providing insights into transient fluid flow and heat transfer characteristics within the mold. Transient fluid flow and heat transfer contributed to the randomness and tendency of hook formation. This randomness was reflected in the varying angles of the hooks, whereas the tendency was evident in the negative correlation between superheat and hook length. Based on the randomness and tendency of hook formation and its profile characteristics, a new method for controlling hook depth based on “sine law” is proposed.