Large language models (LLMs) have shown increasing capability in problem-solving and decision-making, largely based on the step-by-step chain-of-thought reasoning processes. However, evaluating these reasoning abilities has become increasingly challenging. Existing outcome-based benchmarks are beginning to saturate, becoming less effective in tracking meaningful progress. To address this, we present a process-based benchmark MR-Ben that demands a meta-reasoning skill, where LMs are asked to locate and analyse potential errors in automatically generated reasoning steps. Our meta-reasoning paradigm is especially suited for system-2 slow thinking, mirroring the human cognitive process of carefully examining assumptions, conditions, calculations, and logic to identify mistakes. MR-Ben comprises 5,975 questions curated by human experts across a wide range of subjects, including physics, chemistry, logic, coding, and more. Through our designed metrics for assessing meta-reasoning on this benchmark, we identify interesting limitations and weaknesses of current LLMs (open-source and closed-source models). For example, with models like the o1 series from OpenAI demonstrating strong performance by effectively scrutinizing the solution space, many other state-of-the-art models fall significantly behind on MR-Ben, exposing potential shortcomings in their training strategies and inference methodologies.