More than 20 years after the massive site in North Lanarkshire closed, former workers - and some families of workers who have since died - are at the centre of a legal case being prepared by law firm Collins Solicitors.
Senior partner Des Collins expects to have around 300 or 400 clients by the time the case is ready to go to trial and said that the time was right to press ahead with legal action.
The Watford-based firm has gathered evidence from former Ravenscraig employees who are suffering from skin cancer, lung cancer and breathing complaints such as emphysema.
It is calling on other former Ravenscraig employees to come forward.
The firm represented families in a landmark case against Corby District Council in which children of parents who lived near the Northhamptonshire town's steelworks were born with deformities.
And Mr Collins also represents families in the Motherwell toxic land case, where it is claimed residents of the Watling Street estate were being made ill due to houses being built near a former munitions plant.
The firm expects the Watling Street case to go to court next year.
Mr Collins said: "When we were working on Corby, we got a number of inquiries from people who worked at Ravenscraig.
"At the time we didn't feel the law was in the right place for us to take on Ravenscraig, but we did keep those inquiries on file.
"Then when we were working in Motherwell, more local people approached us to ask us to look into Ravenscraig and to represent people who worked in the steel industry, particularly in the coking ovens.
"With all that has happened in the wake of Corby, we think the law has now adjusted itself to the point that claims like these have a good chance of being successful.
"The law recognises now that the state of knowledge in the 50s, 60s and 70s was such to make it incumbent on the people running these operations to take better care of their workers and put in place safety provisions.
"We have revisited all the cases on which we had inquiries regarding Ravenscraig. The cost-effectiveness of this will be more easily established once we have more people on board."
Coking ovens were used in the manufacture of steel and it is the byproducts of these ovens which Collins believes is linked to the illnesses being described by former Ravenscraig workers.
The case will be brought against Ravenscraig's owners.
The plant was commissioned by the Colville Group before the industry came under ownership of the state, handing the reins to British Steel.
Collins Solicitors is investigating the chain of ownership at Ravenscraig down the years.
Mr Collins added: "The number of cases we go forward with is always going to be determined by the number of people who come forward.
"I would have thought that the extent of the Ravenscraig problem would mean a lot more people will come forward.
"This will be a multi-million pound case.
"We are at a very early stage but we will have to move very quickly.
"In personal injury claims, you have three years from the date you find out your complaint is linked to the workplace in which to take it to court.
"The courts can overrule that time bar, but we need to move fast. It's time something was done about what happened at Ravenscraig, this is the right time to take this on.
"The law moves very slowly but now it's in the right place."
A team of four at Collins Solicitors is handling the Ravenscraig case and anyone who believes they or a family member suffered ill health as a result of working there is encouraged to get in touch.
The law firm will also hold a series of seminars in Lanarkshire in the coming months to offer advice to former Ravenscraig workers who feel they may have a claim for compensation.
Collins Solicitors can be found online at www.collins law.co.uk or contacted by telephone on 0800 731 5821.