Developing green, low-carbon building materials has become a viable option for managing bulk industrial solid waste. This paper presents a kind of all solid waste cementitious material (SWCM), which is made entirely from six common industrial wastes, including carbide slag and silica fume, that demonstrate strong mechanical properties and effectively stabilize aeolian sand (AS). Initially, we investigated the mechanical strength of waste-based cementitious materials in various mix ratios, focusing on their ability to stabilize river sand (RS) and aeolian sand. The results show that it is necessary to use alkaline solid waste carbide slag to provide a suitable reaction environment to achieve the desired strength. In contrast, the low reactivity of coal gangue powder did not contribute effectively to the strength of the cementitious material. Further orthogonal experiments determined the impact of different waste dosages on the strength of stabilized AS. It was found that increasing the amounts of carbide slag, silica fume, and blast furnace slag powder improved strength, while increasing fly ash first increased and then decreased strength. In contrast, higher additions of desulfurization gypsum and coal gangue powder led to a continuous decrease in strength. The optimized mix is carbide slag—desulfurization gypsum—fly ash—silica fume—blast furnace slag powder in a ratio of 4:2:2:3:3. The experimental results using SWCM to stabilize AS indicated a proportional relationship between strength and SWCM content. When the content is ≥20%, it meets the strength requirements for road subbases. The primary hydration products of stabilized AS are C-(A)-S-H, AFt, and CaCO3. Increasing the SWCM content enhances the reaction degree of the materials, thereby improving mechanical strength. This study highlights the mechanical properties of cementitious materials made entirely from waste for stabilizing AS. It provides a reference for the large-scale utilization of industrial solid waste and practical applications in desert road construction.