The East Asia black cotton soil (BCS) cannot be used as embankment filling directly due to its high clay content, liquid limit, plasticity index, and low CBR strength (CBR < 3%). This study evaluates the effects of treating East Asia BCS with lime, volcanic ash, or a combination of both on its engineering properties. Experiments were conducted to analyze the basic physical properties, swelling characteristics, and mechanical properties of the treated soil. Results indicate that lime addition significantly reduces the free swelling rate, improves limit moisture content, increases optimum moisture content, decreases maximum dry density, and enhances CBR value. Although volcanic ash also improves BCS performance, its effects are less pronounced than those of lime. The combined treatment with lime and volcanic ash exhibits superior performance, greatly reducing expansion potential and significantly increasing soil strength. Specifically, a mixture of 3% lime and 15% volcanic ash optimizes the liquid limit, plasticity index, and CBR value to 49.2%, 23.8, and 24.7%, respectively, meeting the JTG D30-2015 requirements and reducing construction costs. The treatment mechanisms involve hydration exothermic reactions, volcanic ash reactions, and semipermeable membrane effects, which collectively enhance the soil’s properties by producing dense, high-strength compounds.