This study aimed to verify the role and feasibility of co-fired fly ash (CFA) as an alternative construction material. It also demonstrated the engineering properties of CFA mortar and compared them with those of pulverized coal fly ash (PCFA) mortar. Further, CFA-PCFA-cement mortar specimens were mixed to produce ternary eco-binder mortars and find the optimal application proportion. The results pointed out that the pozzolanic strength activity index of CFA was 76 %, with only a slight pozzolanic reaction. The sum of the chemical composition (SiO2+Al2O3+Fe2O3) of CFA was insufficient to meet ASTM C618 requirements, and it was deduced that a small amount of CFA should be used as the substitute for cement or fine aggregates. Specimens with CFA replacing fine aggregates contributed to lower water absorption, improved sulfate resistance, and increased compressive strength; Specimens with CFA replacing cement reduced shrinkage and improved sulfate resistance but decreased compressive strength and increased absorption. Blended CFA-cement mortars consisting of 5 % CFA as a replacement material for cement and fine aggregates had excellent engineering properties. Ternary blended CFA-PCFA-cement mortar exhibits superior engineering properties. The optimum proportion is an economy-friendly binder composed of 10 % CFA (5 % as cement and 5 % as fine aggregates) and 10% PCFA (as a replacement for cement).