Cement-stabilized macadam materials are widely utilized as semi-rigid base materials in road construction. However, conventional cement-stabilized macadam (CCSM) bases often develop shrinkage cracks during early construction and maintenance due to variations in humidity and temperature. Shrinkage cracks can subsequently result in reflective cracks in the asphalt pavement, significantly reducing the overall service life of the road. This study systematically evaluates the shrinkage and mechanical properties of large-size cement-stabilized macadam (LSCSM). Initially, the mix proportion for LSCSM is determined using the Bailey method. Subsequently, an experimental design based on the response surface method is implemented to comprehensively investigate various properties, including unconfined compressive strength, compressive rebound modulus, flexural strength, and the durability aspects of early drying shrinkage and temperature shrinkage through laboratory experiments. Further, the performance differences between CCSM and LSCSM are analyzed comparatively. The findings reveal that the compressive strength of LSCSM surpasses that of CCSM, albeit with comparatively lower compressive rebound modulus and flexural strength. LSCSM demonstrates a unique blend of characteristics, exhibiting traits of both semi-rigid and flexible materials. Furthermore, LSCSM exhibits favorable crack resistance properties, as evidenced by lower dry shrinkage strain, average dry and temperature shrinkage coefficient compared to CCSM. The proposed LSCSM in this study effectively reduces cement dosage and enhances the crack resistance performance of base materials.