In order to obtain the cheap waste calcium-based sorbent, three wasted CaCO3 precursors, namely carbide slag, chicken eggshells, and analytical reagent-grade calcium carbonate, were selected and prepared at 700 °C to form calcium-based sorbents for CO2 capture. TGA was used to test the CO2 uptake performance of each calcium-based sorbent in 20 cycles. To identify the decay mechanism of CO2 uptake with an increasing number of cycles, all calcium-based sorbents were characterized by using XRF, XRD, and N2 adsorption. The specific surface area of calcium-based sorbents was used to redefine the formula of cyclic carbonation reactivity decay. The carbonation conversion rate of three calcium-based sorbents exhibited a decreasing trend as the cycle number increased. Chicken eggshells exhibited the most significant decrease rate (over 50% compared with Cycle 1), while carbide slag and analytical reagent-grade calcium carbonate showed a flat linear decline trend. The specific surface area of the samples was used to calculate carbonation conversion for an infinite number of cycles. The carbonation conversion rates of three calcium-based sorbents were estimated to decrease to 0.2898, 0.1455, and 0.3438 mol/mol, respectively, after 100 cycles.