In order to solve the engineering application problems such as low cohesion and poor water stability of silt in the alluvial plain of the Yellow River, the sintering red mud and matrix asphalt were utilized as the main materials to prepare red mud-asphalt powder curing agent (RAC) for comprehensively stabilizing the silt. Setting the optimum dosage of cement as 5% and adding 0, 2%, 4%, 6%, 8% RAC to form stable silt specimens, the compressive strength and uniaxial compressive elastic modulus tests were conducted at 3 d, 7 d, 28 d ages after standard curing, immersion softening, cyclic heating, low-temperature freeze-thaw and high-temperature self-healing methods. The change rules of comprehensive road performance of stabilized silt with different dosage of RAC were compared and analyzed. The scanning electron microscope (SEM) was used to observe the microstructure and pore characteristics of silt, cement stabilized silt and RAC stabilized silt, and then the mechanism of solidification and stabilization was discussed. Combined with the practical application of entity engineering, the road performance of RAC stabilized silt was tested and verified. The results showed that RAC stabilized silt had good mechanical properties and water stability compared to cement alone, the strength of 2%, 4%, 6%, and 8% RAC stabilized silt increased by 110%, 146%, 156%, and 161%, respectively after standard curing of 3 d, and the loss rate of immersion strength at 28 d age is reduced from more than 50% to less than 20%. The strength of cement stabilized silt increased slightly after 5 cycles of heating, but the strength of RAC stabilized silt increases by more than 140% when the dosage was higher than 4%. After the low-temperature freeze-thaw tests, the cement stabilized silt specimen cracked and damaged, the RAC stabilized silt specimen was intact, and the loss rate of strength was less than 15%. The specimen was loaded to 90% ultimate load and heated for 5 times, the strength change rates of 2%, 4%, 6%, and 8% RAC stabilized silt were –8.3%, –2.3%, 8.0%, and 12.9%, respectively. The SEM images showed that RAC stabilized silt had dense cemented aggregates and non-connected microporous structure with uniformly distributed pore diameter less than 1 μm, which were beneficial to improve the water stability and frost resistance of stabilized silt. The asphalt components wet-bonded and wrapped with silt particles and hydration products under high temperature conditions, which accelerated the diffusion to fill the internal pores and micro cracks and realized damage repair and structural reinforcement of stabilized soil. In the entity project, the road base was filled with “4% RAC+5% cement” stabilized silt. After opening to traffic, the overall bearing capacity and service condition of the road were in good condition through field coring and FWD deflection tests. There were no cracks, pits, loose and other damages.