Red clay as a special soil has a high liquid-plastic limit, water swelling and water loss shrinkage. To solve the problems red clay was modified by calcium carbonate produced in Hezhou, Guangxi. The Liquid-plastic limit, water loss shrinkage, nuclear magnetic resonance (NMR), X-ray diffraction (XRD), scanning electron microscopy (SEM), and consolidated drained (CD) triaxial shear test were carried out on the modified soils. The results show that when the calcium carbonate content is 20%, the plastic limit is 24.38 and the liquid limit is 38.67, which are reduced by 35.04% and 22.16%, respectively. The Montmorillonite content in the modified soil is reduced by 27.7%. The shrinkage coefficient decreased from 0.325 to 0.102. The NMR test shows that the content is 5% and 10% would lead to a decrease in the macropores and an increase in the micropores pores. The phenomenon is the opposite (15% and 20%). All contents led to the porosity increase. The calcium carbonate content of 5% was selected for triaxial shear tests to obtain the stress-strain curves. The Duncan-Zhang was used to predict the modified soil. The model has a large error in the prediction of the peak of the principal stress difference, but the overall trend is relatively consistent. Therefore, the correction coefficient related to the confining pressure was introduced. The corrected model fits the triaxial shear test well. The research provides a method for the liquid-plastic limits and shrinkage properties of modified red clay, explores the influence of calcium carbonate content on microscopic pores, and the correction of the model provides a theoretical basis for practical application.