The requirements for both stress resistance and durability for reliability in service are ever increasing for bearing steel production. Acciaierie Bertoli Safau (ABS) and ABS Centre Métallurgique (ACM) work together to develop the bearing steel production at ABS and improve its quality. In particular, the cleanliness of the steels—from elecric arc furnace to casting and rolling—has shown to be helpful in controlling the distribution of inclusions in the finished bars. This is of importance for the fatigue properties of the components. This paper focuses on the characterization of inclusion composition during the melting, refining, and casting of a bearing steel. Lollipop samples have been taken at several steps during the steel-making process. This study is focused on understanding the impact of the SiCa additions carried out during the melting and refining on morphology and composition of the inclusions. The analysis of these lollipops via pulse discrimination analysis with optical emission spectrometry (PDA-OES), completed by scanning electron microscopy with energy dispersive spectroscopy (SEM-EDS) investigation, allows evaluation of the composition and the size of a large number of inclusions in a steel sample. This paper will briefly present the production process carried out at ABS. It will then review the characterization methods and how the sampling was carried out. The results will be presented and analyzed with the help of the literature in order to build a mechanism for the formation and modification of the inclusions. The outputs of both characterization techniques will be compared.