Expansive soil underlying structures pose a significant risk to the integrity of superstructures. Chemical soil stabilization can be used to strengthen soils due to the cost and impracticality of mechanical approaches. Waste materials such as recycled gypsum and rice husk ash have been considered alternatives because of their sustainable and economic advantages. A combination of these additives was used to address the high absorption of gypsum and the lack of cohesion of the pozzolan. The study assessed the short-term and long-term performance of expansive soil treated with recycled gypsum and rice husk ash under normal and fluctuating moisture conditions. Direct shear tests indicated ductile and compressive soil behavior with improved shear strength. A good approximation of stress–strain response was made with a modified hyperbolic model for treated soils that exhibited strain hardening and compressive volumetric strain. Durability and water immersion tests were performed for samples after varying curing periods and cycles of capillary soaking to assess the behavior when exposed to varied environmental conditions. Samples under the modified durability test experienced significant strength loss, with decreasing compressive strength as curing durations increased. Specimens in the modified water immersion test experienced significant strength loss; however, it was determined that curing durations did not contribute to the change in the strength of the sample. Expansion index tests also determined that the treatment effectively mitigated expansivity and collapsibility in all samples. Despite improvement in shear strength and expansion potential, further investigation is needed to enhance the durability of soil treated with gypsum and rice husk ash.