To mitigate the adverse effects of fine-grained lithium mica tailings and other solid wastes generated from the extraction of lithium ore mining, as well as the limitations of traditional cement-based binders for lithium mica fine tailings, this study explores the feasibility of using a binder composed of ordinary Portland cement, lithium slag, fly ash, and desulfurization gypsum to stabilize lithium fine tailings into cemented lithium tailings backfill. Compared with traditional cementitious binders, an extensive array of experiments and analyses were conducted on binders formed by various material proportion combinations, employing uniaxial compressive strength tests, microstructural morphology, grayscale analyses, and flowability tests. The results show the following: (1) In this study, an LSB binder exhibiting superior mechanical properties compared to traditional cementitious binders was identified, with an optimal OPC:LS:FA:DG ratio of 2:1:1:1. (2) In the context of cemented lithium mica fine tailings, the LSB-CLTB material exhibits higher unconfined compressive strength and lower self-weight compared to OPC-CLTB materials. At a binder content of 10 wt%, the UCS values achieved by the LSB-CLTB material at curing periods of 7 days, 14 days, and 28 days are 0.97 MPa, 1.52 MPa, and 2.1 MPa, respectively, representing increases of 40.6%, 34.5%, and 44.8% over the compressive strength of OPC-based materials under the same conditions. (3) The LSB binder not only exhibits enhanced pozzolanic reactivity but also facilitates the infilling of detrimental pores through its inherent particle size and the formation of AFt and C-(A)-S-H gels via hydration reactions, thereby effectively improving the compressive strength performance of fine-grained tailings backfill.