To improve the problems of high CO2 emission generated by the preparation of silicate cement, large accumulation of solid waste, and depletion of natural sand resources, this paper investigates the effect of pozzolanic effect of graphite tailings (GT) on the mechanical properties, shrinkage properties and microstructure of alkali-activated mortar, and less research has been done on this related content. This paper partially replaced the natural sand with GT, and completely replaced the cement with fly ash and slag to prepare alkali-activated fly ash-slag (AAFS) mortar. The consequences of GT replacement rate on the mechanical and shrinkage characteristics of AAFS mortar were analyzed. In addition, X-ray diffraction (XRD), mercury-in-pressure (MIP), and nuclear magnetic resonance (29Si MAS NMR) were used to examine the hydration degree, pore structure, and hydration products of AAFS mortar. The results demonstrated when the Na2O content was 7 % and the activator modulus was 1.0, the test group's 28-day flexural and compressive strengths at a 20 % GT replacement rate were increased by 19.49 % and 14.45 %, respectively, compared to the test group without GT. The appropriate quantity of GT reduced the AAFS mortar's drying shrinkage and increased the AAFS mortar's self-shrinkage. According to the microstructure analysis, GT had a pozzolanic effect: moderate doping of GT promoted the hydration reaction of precursors, improved the amount of C-(A)-S-H gel product generated, and improved AAFS mortar's mechanical and shrinkage properties.