This paper investigated the physical, mineralogical, thermal, mechanical, and microstructural performances of concretes with four aerogel contents (i.e., 0, 5, 10, and 20 vol %) and after exposure to elevated temperatures (i.e., 200, 400, 600, 800, and 1000 °C). Mechanisms both of the heat-induced degradation and of the aerogel in mitigating the degradation of concrete were unveiled. Specimens after 200 °C exposure bear the same mineralogical compositions as those at 20 °C. After being exposed to 400 °C and 600 °C, portlandite disappeared. Dolomite and C–S–H still occurred after 800 °C exposure whereas disappeared after 1000 °C exposure. The residual strength of specimens decreased with an increase in the exposure temperature, except for the unexpectedly elevated ones after 400 °C exposure. Incorporating aerogel into specimens alleviated the strength loss after exposure to elevated temperatures, especially after 200–600 °C exposure. For instance, the strength losses of A0, A5, A10, and A20 after 600 °C exposure are 39.4, 39.1, 25.9, and 19.1%, respectively. Aerogel maintained its 3D nano-structure after 400 °C exposure; their thermal insulation properties remained functional. The heat flow was significantly retarded while meeting aerogel particles in the concrete. After 600 °C exposure, the gradual fusion of aerogel thickened the particle skeleton, and enhanced the stiffness and strength of the skeleton, making the aerogel-incorporated concrete resist higher loads than the control concrete. The sintering properties of aerogel play a vital role in mitigating the heat-induced degradation of concrete.