Natural river sand resources are facing depletion, and large-scale mining pollutes the environment and harms humans. To utilize fly ash fully, this study used low-grade fly ash as a substitute for natural river sand in mortar. This has great potential to alleviate the shortage of natural river sand resources, reduce pollution, and improve the utilization of solid waste resources. Six types of green mortars were prepared by replacing different amounts of river sand (0, 20, 40, 60, 80, and 100%) with fly ash and other volumes. Their compressive strength, flexural strength, ultrasonic wave velocity, drying shrinkage, and high-temperature resistance were also investigated. Research has shown that fly ash can be used as a fine aggregate in the preparation of building mortar, thereby ensuring that green-building mortar has sufficient mechanical properties and better durability. The replacement rate for optimal strength and high-temperature performance was determined to be 80%.