Soil salinization restricts the sustainable development of global agriculture, expanding at an annual rate of approximately 1 million hectares. In China, the total area of saline–alkali land reaches 170 million hectares, of which the arable land area exceeds 50 million hectares. The arid northwest region witnesses worsening soil salinization due to arid climate and improper irrigation practices, which seriously affects the yield of crops such as spinach (Spinacia oleracea L.). As a leafy vegetable with high nutritional value and economic significance, spinach exhibits growth inhibition, leaf yellowing, and disrupted physiological metabolism under saline–alkali stress. Therefore, this study investigates the alleviating effects and mechanisms of Attapulgite Clay-g-(AA-co-AAm) Hydrogel (ACH) on spinach under salt stress (NaCl) and alkaline stress (NaHCO₃). The results show that ACH has a loose, porous structure. As the addition of Attapulgite Clay increases, the surface roughness and porosity improve while retaining organic functional groups (amide groups, carboxyl groups) and inorganic Si-O bonds, providing a structural foundation for stress mitigation. In terms of yield enhancement, ACH effectively alleviates salt–alkali stress: under severe salt stress (SS2), 0.2% ACH increased leaf area by 91% and leaf weight by 95.69%; under mild alkaline stress (AS1), 0.2% ACH increased leaf area by 46.3% and leaf weight by 46.21%; and under severe mixed salt–alkali stress (MS2), 0.4% ACH increased root weight by 49.83%. Physiologically, ACH reduced proline content (51.25% reduction under severe mixed stress) and malondialdehyde (MDA) content (68.98% reduction under severe alkaline stress) while increasing soluble sugar content (63.54% increase under mixed stress) and antioxidant enzyme activity (SOD, POD, CAT). In terms of ion regulation, ACH reduced Na⁺ accumulation in roots and leaves (61.12% reduction in roots and 36.4% reduction in leaves under severe salt stress) and maintained potassium–sodium balance. To conclude, ACH mitigates the adverse effects of salt–alkali stress by coordinately modulating spinach’s growth, physiological metabolic processes, and ion balance. This synergistic regulatory effect ultimately contributes to sustaining high yields of spinach.