The feasibility of carbonation curing of ternary blend Portland cement–metakaolin–limestone was investigated. Portland cement was substituted by the combination of metakaolin and limestone at levels of 15%, 30%, and 45% by the mass. The ternary blends were cured with four different combinations of ambient and carbonation curing. The mechanical property, CO2 uptake, and mineralogical variations of the ternary blend pastes were investigated by means of compressive strength test, thermogravimetric analysis, and X-ray diffractometry. In addition, volume of permeable voids and sorptivity of the ternary blends were also presented to provide a fundamental idea of the pore characteristics of the blends. The test results showed that the increasing amount of metakaolin and limestone enhanced the CO2 uptake, reaching 20.7% for the sample with a 45% cement replacement level at 27 d of carbonation. Meanwhile, the compressive strength of the samples was reduced up to 65% upon excessive incorporation of metakaolin and limestone. The samples with a replacement level of 15% exhibited a comparable strength and volume of permeable voids to those of the sample without substitution, proving that the ternary blend Portland cement–metakaolin–limestone can be a viable option toward the development of eco-friendly binders.