Fly ash was used as the main material to prepare mineral polymer in this study. The potassium_distilled waste residue obtained from potassium_rich slate was used as the raw material to replace sodium (potassium) silicate, calcined kaolin, sodium (potassium) hydroxide which are frequently used abroad to prepare mineral polymer. In this way, mineral polymer was prepared. The optimal technical parameters were determined by the orthogonal experiments: the weight proportions of calcined kaolin, waste residue and sodium hydroxide are about 10%~15%, 35% and 5%~6%, respectively. Compressive strengths of the representative mineral polymer samples were tested up to 40~50 MPa after 7d's solidification. Tests show that the acid and alkali resistances of the samples are 99.99% and 100%, respectively, and their density, contractility, thermal conductivity and mean rigidity are 1.77~1.88 g/cm3, 0.13%~0.28%, 0.48~0.51 W/m·K and 3.43, respectively. XRD analysis shows that the matrix phase is amorphous.SEM photograph analysis shows that the floccule matrix phase is combined closely with the glass phase of the fly ash, which provides a good structural basis for the samples. The cost of mineral polymer is low, and it can improve the environment by the utilization of offal-like fly ash.