Shield construction discharges a large amount of soil and muck. The utilization of discharged soil of shield always has high energy consumption and a low utilization rate. Meanwhile, synchronous grouting is a key process for shield tunneling. The current studies show that the synchronous grouting materials applied now generally have the problem of mismatching among filling property, fluidity, and consolidation strength. In order to study the feasibility of using the excavated soil produced by shield construction in clay stratum as synchronous grouting material, high performance synchronous grouting material was studied by taking red clay as an example, modified by epoxy resin. The fluidity, stability, and strength were measured to evaluate performance of the grout. Material test results show that the addition of waterborne epoxy resin decreases density, improves the stability, the rate of stone, and the toughness of the grouting concretion. Finally, X-ray diffraction (XRD) and Scanning Electron Microscopy (SEM) were measured to analyze the cementitious mechanism of the grout, test results demonstrated that cement hydration and curing reaction of epoxy resin happened in the grout, the formed polymer film filled the voids in the mixture and effectively bound cement hydration gel and clay particles together.