Cement has been widely used as a structural material in many underground projects, and these projects often face high- or ultra-high-temperature environments, leading to the deterioration of the mechanical, porosity, and permeability properties of set cement, thereby increasing the risk of instability of underground structures. In response to this, two new temperature-resistant cement slurry systems were designed. Experiments were conducted on the changes in porosity and permeability of set cement after thermal treatment using low-field nuclear magnetic resonance technology (NMR), visual studies of pore and crack development were carried out using the argon-ion polishing field emission scanning electron microscopy (FE-SEM) and computed tomography (CT) methods. The research results show that as the thermal treatment temperature continued to rise, the compressive strength first increased (25 °C–200 °C) and then decreased (200 °C–600 °C). The porosity of the set cement first decreased (25 °C–115 °C) and then increased (115 °C–600 °C), and the penetration first slowly increased (25 °C–400 °C) and then rapidly increased (400 °C–600 °C). Visualization experiments were conducted on micro-cracks and the pore distribution of the set cement under high- and ultra-high-temperatures, which proved the evolution law of these characteristic parameters. The research results have vital reference significance for the protection of the structural stability of cement components when encountering high-temperature environments.