Colloidal silica is used in many kinds of industry. It is an aqueous dispersion of SiO2 nanoparticles. SiO2 colloidal solutions are commercially available in different concentrations, with different particle sizes and are stabilized with different ions. Colloidal SiO2 was used in this study as a cement replacement in refractory castable. The present study, in its first stage, offers an assessment of five different SiO2 colloidal solutions. The particle size of the solutions was 15 nm, the particle concentration was 30% and 40% and the colloidal solutions were stabilized with Na+, OH− and Cl− ions. The effect of the colloidal solutions on selected characteristics of the refractory pastes and on their mineralogical composition after firing at 1000 °C and 1500 °C was described. The most suitable SiO2 colloidal solution from the first stage was subsequently used for the refractory castable test samples’ preparation in the second stage. Refractory castables, unlike paste, contain a coarse aggregate (grog) up to a grain size of 6 mm. Four types of coarse refractory grog were evaluated. Their effect on selected characteristics of the refractory castable and on its mineralogical composition after firing at 1000 °C and 1500 °C was described. The selected characteristics, within the scope of this study, include bulk density, apparent porosity, cold modulus of rupture and linear changes after firing. Finally, the study describes the effect of the sol particle concentration and the effect of pore size distribution on corrosion resistance and on the internal structure of the material. Mineral and chemical compositions and microstructures of both the raw materials and designed aggregates were thoroughly investigated by the means of X-ray fluorescence spectroscopy, powder X-ray diffraction and scanning electron microscopy. An analysis of the transition zone between corrosive media (K2CO3) and tested castables showed better corrosion resistance for a sol-gel castable than an ultra-low cement castable.