In this study, rubberized cementitious materials are produced with recycled rubber waste as an alternative to fine aggregate. Mixtures with different additions to rubber wastes (RW), silica fume (SF), and blast furnace slag (BFS) have been designed and characterized. Hardened properties including compressive and bond strength, shrinkage, water-accessible porosity, rapid chloride migration, and microstructure were investigated. The results show that the addition of SF and BFS improves the performances of rubberized mortars and reduces shrinkage. The incorporation of 5% RW with 20% BFS increases compressive strength and reduces water-accessible porosity. Ion chloride resistance was enhanced by a combination of 15% RW, 8% SF, and 20% BFS. The addition of SF and BFS as cement replacement improves the performance of mortars due to their filling effect and a pozzolanic reaction, which has been verified by a microstructural analysis.