In this study, the compatibility of polycarboxylate-based water-reducing admixtures (PCEs) with cementitious systems containing fly ash (FA) was investigated. For this purpose, PCEs with carboxylate, phosphate, and sulfonate anionic groups having different anionic charge densities were synthesized. The effects of PCEs on fresh properties and compressive strength of cementitious systems containing FA were investigated. The PCE with 9% phosphate substitution and high anionic charge density was found to be the most effective, requiring the least amount for the target flow. Similarly, in terms of the PCE requirement for the minimum Marsh funnel flow time and rheological parameters, the best performance was obtained with 5% sulfonate substituted PCE having high anionic charge density. While FA had a positive effect on the PCE requirement and consistency retention of the mixtures; it had a negative effect on Marsh funnel flow time, rheological properties, and compressive strength. However, the rheological properties of the mortar mixtures were not adversely affected by the FA substitution as much as that of the paste mixtures. Regarding the 28-day compressive strength of mortar mixtures, the optimum FA substitution ratio was 15%. Fly ash substitution above this level reduced the compressive strength at all ages including 28-day strength. Anionic charge density variation of PCE had no significant influence on the compressive strength of the mortars.