Foamed fly ash geopolymer was synthesized in this work to produce geopolymeric lightweight concrete (GLWC). Fly ash was activated by sodium silicate solution, and aluminum powder was employed as an in situ chemical foaming agent. The synthesized pastes were cured at 40 °C for 28 days, with bulk densities of resultant GLWCs ranging from 600 to 1600 kg/m³. The resulting mechanical properties, thermal conductivity, microstructure, and reaction product were fully characterized. Results show that GLWC had higher mechanical strength than commercial aerated concrete and developed 80–90% of its corresponding 28 days strength after curing for 7 days. For densities from 1200 to 600 kg/m³, the thermal conductivity diminished from 0.70 to 0.22 W/mK, which is much better than that of its counterpart, ordinary Portland cement (OPC). Scanning electron microscopy (SEM) images revealed decent matrices comprising geopolymeric gel and unreacted fly ash.