The early strength formation of Cement-Stabilized Macadam (CSM) base materials in cold regions is affected by environmental changes. At the same time, the curing temperature of CSM in the actual service environment did not meet the laboratory standard temperature curing environment (ST-CE). This study explores the evolution law of CSM performance and the influence of an early strength agent (ESA-I) on the early performance of CSM under variable temperature curing environment (VT-CE) in cold regions. The actual service environment for CSM curing was simulated in the laboratory, and CSM specimens with five ESA-I dosages of 0%, 5%, 10%, 15%, and 20% were prepared. The effect of ESA-I on the early properties of CSM under VT-CE was analyzed. The micro mechanism of CSM under different curing environments and ESA-I dosages was investigated based on X-ray diffraction, Fourier transform infrared spectroscopy, and Scanning electron microscope. The experimental results indicated that the early strength formation of CSM was slow in VT-CE, and the 7-day unconfined compressive strength did not meet the construction quality control indicators of CSM material under heavy traffic conditions. It was necessary to extend the curing period to meet the construction requirements. Adding ESA-I could enhance the strength, modulus, frost resistance, and fatigue performance of CSM under different curing environments. Compared with the ST-CE, the VT-CE would weaken the improvement effect of ESA-I on the performance of CSM. The recommended range for ESA-I in VT-CE was 10% −15% based on comprehensive compressive strength and resilient modulus indicators. Microscopic experiments show that under a VT-CE, the hydration rate of cement decreases, the Ettringite content in the hydration products is higher, and the microstructure is loose. Adding ESA-I improves the hydration rate of cement under VT-CE, and the microstructure contains more C-S-H hydration products.