The engineering properties (shear strength and compressibility) of lunar soils influence the design of landers, rovers, and their mobility behavior on the lunar surface. Assessing such properties is important for any lunar-based studies, and it is usually being determined by using suitable lunar soil simulants. This paper explains the shear strength parameters, stress-strain relationships, and volume change behavior of the newly developed lunar highland soil simulant (LSS-ISAC-1), apart from particle size distribution, which have a profound influence on the engineering behavior. In addition, to the above, other engineering properties such as critical state of the angle of internal friction, dilatancy angle, Young's modulus, Poisson's ratio, internal erodibility, small-strain shear wave velocity, and shear modulus have also been evaluated and presented. Mohr-Coulomb and friction-dilatancy theories are considered as a base for the analysis with the use of statistical predictive equations. The relative density and confining pressures are used as functions in the predictive equation to assess the behavior of the LSS-ISAC-1. The comparison of properties with the actual lunar highland soil samples of the Apollo 16 mission reveals a reasonable similarity of LSS-ISAC-1 with the lunar highland soils.