In order to use the alkaline ingredient in red mud, this paper studied the strength variation law of alkali-activated red mud and lime cement material combined with slag. When the content ranged from 0 wt% to 20 wt%, the experiment showed that the flexural strength increased when the content increased, and the compress strength increased when the content increased with the content ranging from 0 wt% to 15 wt%. When the content reached 25 wt%, the strength of alkali-activated red mud cement material was equal with alkali activated slag cement. The SEM test of alkali-activated red mud cement material showed that red mud and lime both participated in hydration reaction fully.