The invention relates to a stabilizing material which is prepared from the following raw materials in parts by weight: 70-85 parts of sulfoaluminate cement, 5-15 parts of ordinary Portland cement, 5-10 parts of quicklime and 5-10 parts of core material. The core material is formed by mixing the following components in parts by weight: 2-5 parts of calcined ardealite powder, 0-2 parts of water-reducing agent and 2-8 parts of porous carrier. The invention also relates to a preparation method of the stabilizing material and application of the stabilizing material in treating well-drilling waste, making roadbed materials and making concrete pavement bricks.