River silt deposited by water in coastal areas is unsuitable for engineering construction. Thus, the in situ stabilization treatment of river silt as the bearing layer has been an important research area in geotechnical engineering. The strength degradation behavior and mechanism of stabilized river silt reinforced with cement and alginate fibers (AFCS) in different engineering environments are crucial for engineering applications. Therefore, freeze–thaw (F–T) cycle tests, wetting-drying (W–D) cycle tests, water immersion tests and seawater erosion tests were conducted to explore the strength attenuation of stabilized river silt reinforced with the same cement content (9% by wet weight) and different fiber contents (0%, 0.3%, 0.6% and 0.9% by weight of wet soil) and fiber lengths (3 mm, 6 mm and 9 mm). The reinforcement and damage mechanism of AFCS was analyzed by scanning electron microscopy (SEM) imaging. The results indicate that the strength of AFCS was improved from 84% to 180% at 15 F–T cycle tests, and the strength of AFCS was improved by 26% and 40% at 30 W–D cycles, which showed better stability and excellent characteristics owing to the hygroscopic characteristics of alginate fiber arousing the release of calcium and magnesium ions within the alginate. Also, the strength attenuation of AFCS was reduced with the increase in the length and content of alginate fibers. Further, the strength of specimens in the freshwater environment was higher than that in the seawater environment at the same fiber content, and the softening coefficient of AFCS in the freshwater environment was above 0.85, indicating that the AFCS had good water stability. The optimal fiber content was found to be 0.6% based on the unconfined compressive strength (UCS) reduction in specimens cured in seawater and a freshwater environment. And the strength of AFCS was improved by about 10% compared with that of cement-stabilized soil (CS) in a seawater environment. A stable spatial network structure inside the soil was formed, in which the reinforcing effect of fibers was affected by mechanical connection, friction and interfacial bonding. However, noticeable cracks developed in the immersed and F–T specimens. These microscopic characteristics contributed to decreased mechanical properties for AFCS. The results of this research provide a reference for the engineering application of AFCS.