The current work discusses the radiation attenuation capability and different shielding characteristics of different mortar samples. The samples were prepared by replacing different percentages of fine aggregate with iron filling and replacing different percentages of hydrated lime with Bi2O3 (0–50 wt.%). The prepared mortar samples are coded as CHBFX where X = 0, 10, 30, and 50 wt.%. The mass and linear attenuation coefficient was determined experimentally using a narrow beam technique, where a high purity germanium detector, and different point gamma-ray sources (such as Am-241, Cs-137, and Co-60). The linear attenuation coefficient was also calculated using the Monte-Carlo simulation code and the online Phy-X/PSD software. The comparison of the three methods showed a good agreement in the results. The linear attenuation coefficient drops from 19.821 to 0.053 cm−1 for CHBF0, from 27.496 to 0.057 cm−1 for CHBF10, from 42.351 to 0.064 cm−1 for CHBF30, and from 55.068 to 0.071 cm−1 for CHBF50 at photon energy range from 0.015 to 15 MeV. The half-value layer thickness, tenth-value layer thickness, and mean free path of the prepared mortar composites were also calculated photon energy ranged from 0.015 to 15 MeV. The fast neutron removal cross-section of the prepared CHBFX mortar samples have values of 0.096 cm−1, 0.098 cm−1, 0.103 cm−1, and 0.107 cm−1 for the mortar samples CHBF0, CHBF10, CHBF30, and CHBF50, respectively. The results showed that the mortar sample with the highest iron filing concentration, CHBF50, provides the best protection against gamma rays and fast neutrons which could be used in the nuclear and medical fields.