ZSM-5 zeolite is a kind of high-value-added porous aluminosilicate zeolite. The use of the coal gasification slag utilization process by-product desilication liquid as a silicon raw material to replace the current raw materials such as water glass will help reduce production costs and achieve high-value utilization of solid waste. ZSM-5 zeolites for volatile organic compounds (VOCs) adsorption were prepared by a one-step hydrothermal method using the desilication solution prepared from coal gasification slag as the main silicon source and sodium source. The effects of crystallization reaction time, the crystallization temperature, the Na2O/SiO2 molar ratio, and the SiO2/Al2O3 molar ratio on the relative crystallinity and the specific surface area of the ZSM-5 zeolite were investigated and optimized. The optical reaction conditions were as follows: a crystallization time of 12 h, a crystallization temperature of 170 °C, a Na2O/SiO2 molar ratio of 0.2, and a SiO2/Al2O3 molar ratio of 200. The optimal ZSM-5 zeolite synthesized is hexagonal, with regular grains, a relative crystallinity of 101.48%, a specific surface area of 337.48 m2·g−1, and a pore volume of 0.190 cm3·g−1. And the optimal ZSM-5 zeolite was composed of SiO2 content of 97.52 wt%, Al2O3 content of 1.58 wt%, Na2O content of 0.33 wt%, and SiO2/Al2O3 molar ratio of 104.93. Na2O/SiO2 molar ratio is 0.0033. The results of static adsorption experiments show that the static adsorption capacities of ZSM-5 zeolite for p-xylene, benzene, toluene, and butyl acetate were 118.85, 69.98, 68.74, and 95.85 mg·g−1, respectively, which can effectively adsorb VOCs. The synthetic process of the ZSM-5 zeolite is a simple preparation process and short in synthesis time. The results of this study not only help to realize the high-value utilization of silicon components in solid waste, but also provide an economical and effective way to synthesize VOCs adsorption materials.