The influence of recycled fine aggregate content on the properties of soft soil solidified by industrial waste residue was systematically studied. First, the addition of recycled fine aggregate may provide skeleton support, which was conducive to improving the solidification properties. Comparing the addition of recycled fine aggregate content and a composite solidification agent separately, the compressive strength increased 48.01 times and 1.32 times, respectively. Second, the composition and quantity of the hydration products were analyzed by X-ray diffraction (XRD) and thermal gravity analysis (TG/DTG). In addition to silicon dioxide and aluminum oxide, a number of new minerals, including hydrated calcium silicate, calcium hydroxide and ettringite, were produced under different recycled fine aggregate contents. The diffraction peak of hydrated calcium hydroxide was weak, which indicated that the crystallinity and relative content was low. The main reason for this was that it was consumed as the activator of the secondary hydration reaction of blast furnace slag. With the increase in recycled fine aggregate content, the total weight loss (hydration products, crystal water, impurities) increased significantly, at rates of 6.9%, 7.0%, 7.2%, 8.8% and 9.7%. The addition of recycled fine aggregate does not change the composition and quantity of the hydration products, and the increased weight loss in this part might be caused by the cement paste attached to the surface of the recycled fine aggregate. Finally, their microstructure was analyzed by scanning electron microscopy (SEM). Larger and more pores appeared in the solidification system with the increase in recycled fine aggregate, and a large amount of ettringite was prepared. An excess in recycled fine aggregate caused more pores, and the negative impact of too many pores exceeded the lifting effect of the aggregate, resulting in the decline of its mechanical properties. Therefore, there was a suitable range for the use of recycled fine aggregate, which was not more than 40%. In conclusion, recycled fine aggregate not only acts as a skeleton to improve solidification strength, but could also realize the comprehensive utilization of waste, which provided a new scheme for solid waste utilization and soft soil solidification.