Ferroalloy slag is a potential hydraulic and cementitious material, and the physical and chemical excitation preparation can make it to be a high-strength cementitious material .Because of its rich Al2O3, there are not only of C-S-H gel but also ettringite were found in the product by added chemical agent . The cementitious material was prepared from a series of excitatious process and the strength can reach the requirements of ordinary portland cement labeling 42.5R.The formation process of C-S-H and ettringite was analyzed by X-ray diffraction and electron microscopy.