Soda residue (SR), a solid waste generated in the production of Na2CO3 during the ammonia soda process, with a high pH value of 12, can be used as an activator of alkali-activated ground granulated blast furnace slag (GGBFS) cementitious materials. Three groups of experiments on SR-activated GGBFS mortars were designed in this paper to assess the role of the dominant parameters on fluidity and compressive strength of mortars. The results indicate that for fluidity and mechanical properties, the optimal scheme of SR-activated GGBFS mortars is 16:84–24:76 S/G, 0.01 NaOH/b, 0.05 CaO/b, and 0.50 w/b, with fluidity and compressive strength (28 d) of the mortars being 181–195 mm and 32.3–35.4 MPa, respectively. Between 2.5–10% CaCl2 addition to CaO (5%)-SR (24%)-activated GGBFS mortar is beneficial to the improvement of the compressive strength of C2, whereas the addition of CaSO4 is harmful. The main hydration products of mortars are ettringite, Friedel’s slat, and CSH gels. The results provide a theoretical basis and data support for the utilization of SR.