An ozonation-based method for producing a cementitious material comprises the steps of: (1) mixing a flue gas with an ozone-containing gas to form a mixed flue gas; and introducing the mixed flue gas into an absorption tower, where the mixed flue gas undergoes dry desulfurization and denitrification by reacting with a powdered desulfurizing and denitrificating agent and becomes a treated flue gas; (2) subjecting the treated flue gas to dust removal to generate by-products; and (3) uniformly mixing raw materials that comprise the first by-product, magnesium oxide, fly ash and an additive to give a cementitious material, wherein on the basis of 100 parts by weight of the cementitious material, the first by-product is 20-60 parts by weight, magnesium oxide is 16-33 parts by weight, the fly ash is 15-35 parts by weight, and the additive is 1-15 parts by weight.