This study reports an alkali-activated binder including blast furnace slag (BFS) together with marble waste (MW). Cement is an industrial product that emits a significant amount of CO2 during its production and incurs high energy costs. MW is generated during the extraction, cutting, and processing of marble in production facilities, where dust mixes with water to form a settling sludge. This sludge is an environmentally harmful waste that must be disposed of in accordance with legal regulations. In this study, a substantial amount of MW, a by-product with considerable environmental and economic impacts worldwide, was utilized in the production of a binder through the alkaline activation of BFS. In doing this, different experimental parameters were tested to obtain the best binder samples according to workability and mechanical properties. Then, some experiments such as drying shrinkage determination, strength testing, and microstructure analyses were fulfilled through samples with the best values. The findings supported the improvement of the rapid-setting property of BFS by means of the addition of MW. MW reduced the time-dependent drying shrinkage values of BFS by 55%, especially in slag alkaline activation systems with a low or moderate alkali activator content. The substitution of MW (≤50%) in BFS increased flexural and compressive strengths (4.5 and 61.7 MPa), while a reference sample contained BFS only. Although the use of MW did not create a new phase, it contributed to a C-S-H bonding structure during the alkali activation of BFS in a microstructure analysis.