This study investigated a cementitious material by utilizing two industrial wastes, phosphogypsum (PG) and steel slag (SS), combined with another industrial byproduct ground granulated blast-furnace slag (GGBFS) and limestone (LS). The 28d compressive strength of a mixture of 45% PG, 10% SS, 35% GGBFS and 10% LS exceeded 40 MPa. XRD and SEM analyses showed that the main hydration products were ettringite and C–S–H gel. Part of PG reacted with GGBFS and SS to form ettringite, the residual PG was wrapped by hydration products. SS in the cement acted as an alkalinity activator. Over dosage of SS may cause unsoundness.