Waste resource utilization can save energy, reduce costs, and is one of the important means to protect the environment. Flue-gas desulphurized (FGD) gypsum is a common industrial by-product. These by-products are not only difficult to use, but also have serious impacts on the ecological environment. The conventional process of the industrial utilization of the calcium sulfate whisker pretreatment process leads to a low utilization rate of FGD gypsum, further increasing the consumption of resources and leading to secondary pollution. This study presents a method of preparing composites by adding FGD gypsum directly into epoxy resin with polyethylene-grafted maleic (PGM) anhydride as a compatibilizer of FGD gypsum/epoxy resin composites. Results showed weak tensile properties and impact properties of the composites when only FGD gypsum was added. When the amount of PGM added was 6 wt%, the tensile properties and impact properties of FGD gypsum/epoxy resin composites improved by 75% and 63%, and compared with the neat epoxy resin, the tensile properties and impact properties of FGD gypsum/epoxy resin composites, respectively, improved by 30% and 57%. Additionally, laser particle size analysis, X-ray diffraction (XRD) analysis, Fourier transform infrared spectroscopy (FT-IR), Scanning electron microscopy (SEM), energy-dispersive X-ray spectroscopy (EDS), a thermogravimetric analyzer (TGA), and a Differential scanning calorimeter (DSC) were used to examine the effects of PGM on the mechanical properties of FGD gypsum/epoxy resin composites and its mechanism of action. The recycling of FGD gypsum in resin materials has been extended in this study.