Electric arc furnace oxidizing slag (EAF) has a high density of 3.0~3.7 t/m3 and therefore has a high bulk density when mixed with concrete. Extensive research has been conducted on the use of concrete with high unit volume weight as heavyweight concrete for radiation shielding concrete. In this study, to examine the possibility of developing a radiation shielding concrete, the physical properties of normal concrete, magnetite concrete, EAF concrete, and EAF concrete with added iron powder, were compared. Also, their radiation shielding performance was assessed through shielding tests against X-rays and γ-rays. While the unit volume weight of EAF concrete (3.21 t/m3) appeared lower than that of magnetite concrete (3.5 t/m3), the compressive strength of EAF concrete was greater than those of magnetite and normal concretes. The radiation shielding ratio of magnetite concrete was observed to be 93.9% from the X-ray shielding test, followed by 91.2% of EAF concrete, and 73.7% of normal concrete, indicating a linear relationship with unit volume weight. From the γ-ray shielding test, the performance of EAF and magnetite concretes appeared to be similar. Based on the excellent physical properties and radiation shielding performance of EAF concrete, its potential applicability as radiation shielding concrete was confirmed.