Recycled concrete incorporating additional super-absorbent polymer (SAP) and machine-made stone powder (MSP) was prepared using a two-factor, four-level orthogonal test. To enhance the frost resistance of recycled concrete and improve its mechanical properties, such as compressive and flexural strength, the prepared concrete underwent 200 freeze–thaw cycles. Before freeze–thaw cycles, the amount of SAP has a predominant influence on the mechanical properties of recycled concrete in comparison with MSP. After 200 cycles of freeze–thaw, the influence of MSP became more significant than that of SAP. Typically, the compressive strength and flexural strength exhibited a trend of initially increasing and then decreasing as the contents of SAP and MSP increased. The optimized recycled concrete was identified as S16M6, containing 0.16% SAP and 6% MSP, as demonstrated by the minimal strength loss after freeze–thaw cycles. This study also proposed a linear regression model for predicting the mechanical properties which offered valuable guidance for the engineering application of recycled concrete mixed with SAP under the freeze–thaw cycle environment.