Foamed lightweight soils (FLS) have been extensively used as backfill material in the construction of transportation infrastructures. However, in the regions consisting of salt-rich soft soil, the earth structure made by FLS experiences both fluctuation of groundwater and chemical environment erosion, which would accelerate the deterioration of its long-term performance. This study conducted laboratory tests to explore the deterioration of FLS in strength after being eroded by sulfate attack and/or wet-dry cycling, where the influencing factors of FLS density, concentration of sulfate solution, and cation type (i.e., Na+ and Mg2+) were considered. An unconfined compressive test (UCT) was conducted, and the corrosion-resistant coefficient (CRC) was adopted to evaluate the erosion degree after the specimens experienced sulfate attack and/or dry-wet cycling for a certain period. The research results show that the erosion of the FLS specimen under the coupling effect of sulfate attack and dry-wet cycling was more remarkable than that only under chemical soaking, and Na2SO4 solution had a severe erosion effect as compared with MgSO4 solution when other conditions were kept constant. An empirical model is proposed based on the test results, and its reliability has been verified with other test results from the literature. The proposed model provides an alternative for engineers to estimate the strength deterioration of FLS on real structures in a preliminary design.