Recycling of construction waste has been a hot issue in road engineering research, and microscopic characteristics and composition of construction waste-recycled aggregate (RA) significantly influence their macroscopic service characteristics. In this paper, the composition, microstructure, and strength formation mechanism of natural aggregate (NA), recycled concrete aggregate (RCA), and recycled brick (RCB) were systematically studied by X-ray diffraction analysis (XRD), scanning electron microscopy (SEM), fractal dimension and porosity determination, unconfined compressive strength test, and indirect tensile test. The results showed that RA’s microscopic morphological characteristics and chemical components were analyzed by combining XRD and SEM electron microscopy techniques. RA has prominent fractal features, and the smaller bulk density and more extensive crushing value index of RA correspond to its larger porosity as well as fractal dimension. The attributes of RA lead to the peak of 7 d unconfined compressive strength and 7 d splitting strength of the mix. The reasonable control of RA admixture benefits the improvement of mix strength. This study relies on engineering to carry out theoretical and experimental research, which provides essential support and guarantee for the application of construction waste in the field of highway transportation in Hebei Province.