Similar materials play an important role in model testing. In order to meet the demand for similar materials in modeling tests, such as those on coal mining, coal system rocky similar materials were formulated using yellow sand as a coarse aggregate, heavy calcium carbonate as a fine aggregate, and cement and gypsum as binders. Based on the orthogonal experimental design method, four influencing factors, namely the aggregate-binder ratio, heavy calcium carbonate content, cement-gypsum ratio, and moisture content, were selected. Each factor was designed at five levels. Through weighing, uniaxial compression, Brazilian splitting, and variable-angle plate shear tests on 225 specimens under 25 different ratios, five physico-mechanical property indicators of the material, including density, compressive strength, tensile strength, cohesion, and internal friction angle, were obtained under different ratios. The test results indicate that the similar materials formulated with the above raw materials had a wide range of mechanical properties, which met the simulation needs of different types of coal rocks, such as main coking coal, anthracite, shale, etc., in the similar model test. Range analysis was adopted to analyze the sensitivities to each factor, which showed that the density and internal friction angle of similar materials are mainly controlled by the aggregate-binder ratio; the cement-gypsum ratio mainly controls the compressive strength, tensile strength, and cohesion of the material. Analysis of variance (ANOVA) was adopted to analyze the sensitivities to each factor, which showed that the aggregate-binder ratio had a highly significant effect on the density of the material, the cement-gypsum ratio had a highly significant effect on the compressive and tensile strength of the material, the cement-gypsum ratio had a significant effect on the cohesion and density of the material, and the moisture content had a significant effect on the compressive strength of the material. The remaining factors did not significantly affect the material parameters. The results of this study can provide some reference for the selection of coal system rocky similar materials in subsequent physical modeling tests.