Road construction usually relies on the utilization of natural aggregates as building materials. However, increasing pressure for sustainable roads highlights the importance of replacing natural materials with industrial byproducts. The scope of the present study was to identify feasible secondary raw materials for road subbase construction, and to investigate their environmental footprint in the context of Vietnam. This work examines road subbase alternatives such as manufactured sand (m-sand), granulated blast furnace slag (GBF), electric arc furnace slag (EAF), construction and demolition waste (CDW), and fly ash (FA). Based on the life-cycle assessment (LCA) approach, the environmental footprints of the alternative waste-based layers were compared with one another and with the corresponding conventional layers. The study comprises following working steps: (i) a comprehensive literature review of the respective materials, (ii) general chemical and soil mechanical analysis of road subbase substitutes, and (iii) LCA of the material alternatives in the context of the Vietnamese road construction sector. The results for the road subbase layer indicated that CDW and FA had lower impacts—particularly in the impact categories global warming potential and mineral resource scarcity. The overall LCA analysis for the road subbase layer highlighted that the greatest footprint contribution was involved in the construction material transportation processes. Thus, sourcing of materials closer to the site or the use of low-emission transport alternatives is needed.