Cement is the most important binding agent used in soil stabilization and significantly improves the strength and compressibility of soils. However, owing to the significant environmental and socio-economic impact of cement production, alternative, low-carbon binders are increasingly being sought. Among them, waste-based inorganic additives used in construction provide sustainable soil treatment materials and reduce the need for landfills. Effective mud stabilization depends on the type of stabilizers and their mineralogical setup, as well as an understanding of their water absorption capacity. Therefore, this study investigated the factors influencing the water absorption characteristics of waste-based additives, including paper sludge ash (PSA), palm kernel shell ash (PKSA), rice husk ash (RHA), coal fly ash, hemihydrate gypsum, limestone powder, and basalt rock powder (BRP). The water absorption capacity (Wab) of each additive represents the amount of water absorbed per gram evaluated via the suction filtration method. The long-term water absorption capacities of the waste additives were compared with a conventional additive, blast furnace cement class B (BFCB). Although PSA, PKSA, and RHA absorbed more water than BFCB under short-term curing, BFCB exhibited the highest Wab under long-term curing. PSA, PKSA, and RHA had a water absorption capacity at 4 h (Wab)t = 4h of 74.5%, 107.3%, and 62.9%, respectively, whereas that of BFCB was 37.4%. In contrast, after 168 h, the water absorption capacity of BFCB increased to 126.1%. These evaluated water absorption capacities were categorized into immediate and time-dependent stages. Mercury intrusion porosimetry, X-ray diffraction (XRD), and scanning electron microscopy investigations were conducted to investigate the influence of factors such as porosity and hydration of the different additives on water absorption capacity. The results showed that porosity characteristics affect the immediate water absorption capacity, and hydrate formation contributes to increased water absorption during curing. The waste additives PSA, PKSA, and RHA with irregular surfaces and pores were highly porous and exhibited a high immediate water absorption capacity (Wab)t = 4h, unlike the additives with flat surfaces and less irregularities with lower (Wab)t = 4h. The XRD investigation revealed that the presence of ettringite and calcite contributed to increased water absorption during curing for PSA, PKSA, and BFCB. The generation of needle-like ettringite could promote a denser microstructure in PSA, PKSA, and BFCB, thus further improving Wab during curing. Finally, using cone index strength, we explored the effective application of waste-based additives as soil stabilizers, attempting to predict the effect of water absorption capacity on the properties of treated soil. The stabilizer addition ratio (A) and Wab of the waste additives were found to be essential indicators for predicting the strength development of treated clays. A clear correlation was observed between the cone index (qc) and parameter β(t), which is derived from Wab and A, of the treated clays.