The usage of manufactured sand concrete is widespread in modern engineering, and it is important to study its performance to improve the overall engineering quality. This paper presents an experimental study on the working performance and durability of 12 groups of manufactured sand high-performance concrete (MSHPC) with varying mix ratios, in the context of the construction of the Dalian Bay undersea immersed tube tunnel. The study reveals that the stone powder content significantly affects the physical and mechanical properties, as well as the durability, of manufactured sand concrete. At an approximately 9% stone powder content, the concrete achieves the highest slump and best workability. However, excessive stone powder reduces early crack resistance. Furthermore, an optimal stone powder content (ranging from 5% to 13%) enhances the compressive strength, with the 28-day compressive strength reaching 60 MPa at a 13% stone powder content, while the effect on the splitting tensile strength is negligible. The stone powder content does not significantly impact impermeability and frost resistance, but at 7–9%, the RCM method shows the lowest chloride ion diffusion coefficient. Additionally, a lower water–binder ratio enhances resistance to chloride ion diffusion. High-performance RCM concrete with a 9% stone powder content was used in the construction of the Dalian Bay Cross-Harbor Tunnel, achieving 28-day and 56-day compressive strengths of C45 and C50, respectively, an impermeability grade of P14, a chloride ion diffusion coefficient of 1.9 × 10−12 m2/s, and a frost durability index of 92%, meeting the project’s 100-year lifespan design requirements.