In the Huainan and Huaibei mining areas, a layer of calcareous clay is buried deep in the surface soil layer (at approximately 400 m). This layer is in a high-stress state and is prone to freezing pipe fractures in the freezing method. To obtain the true triaxial mechanical properties of this clay in its frozen state, this study conducted a cross test (L16(45)) to explore the change law of the strength of frozen calcareous clay under the influence of multiple factors. The results showed that the true triaxial stress–strain curve of frozen calcareous clay was divided into three stages: the strain within 0.5% showed linear elasticity. Under compressive stress, ice crystals and their cements were damaged or melted and shrank. At approximately 5%, they showed plastic hardening. The soil particles and ice crystals in the frozen soil recombined and became denser, resulting in irreversible deformation. As the compression progressed, cracks bred and swelled. The failure stage was manifested as strain hardening due to the test loading conditions. As the deformation increased, the stress also slightly increased. The consistent strength-influencing factors could be obtained through range and hierarchy analyses. The primary and secondary order of influence of σ1 was the confining pressure σ3, water content ω, temperature T, Bishop parameter b, and salt content ψ. The influence weight of each factor was quantitatively calculated. In the significance analysis, when the interaction was not considered, the effects of the pressure and moisture content on the strength were always significant. The effect of temperature was significant only when the significance level Ω > 0.05. The salt content and b value had no significant influence on the strength, and the significance of each factor followed the order of the results of the range analysis method and analytic hierarchy process; when considering the interaction, the interaction factors had different effects on the strength. When Ω > 0.01, the influence of factor A (temperature T) × B (water content ω) on the strength showed significance, even exceeding that of temperature. This demonstrated that when studying the strength characteristics of frozen soil, it is necessary to comprehensively consider the various factors and their interaction to more accurately characterize the mechanical behavior of frozen solids.