Since the exploration of the characteristics of dredged mud slurry during batch settlement and low-pressure consolidation (less than 100 kPa) is still insufficient, the determination of the optimal time to start the vacuum preloading method (VPM) on dredged-fill foundations is still empirically oriented (due to a lack of enough scientific basis). To further explore the characteristics of dredged mud slurry during batch settlement and low-pressure consolidation, samples from typical dredged-fill land projects were obtained and used to conduct batch sedimentation model experiments and low-pressure (less than 100 kPa) consolidation tests. The results of experiments and analyses showed the following: (1) the clay (d < 0.005 mm) content is a main factor affecting the batch settlement and consolidation characteristics of dredged mud slurry, which is not conducive to the consolidation effect of dredged-fill foundations. (2) For dredged mud slurry whose clay content is within 40% to 60%, the cumulative change rate of the average porosity ratio of 60% to 75% is suitable for evaluating the steady state of its batch sedimentation process, i.e., the optimal starting time of VPM. Finally, based on the experimental analyses, a settlement prediction method that considers both the batch sedimentation and the low-pressure consolidation processes was developed and validated.