To study the basic properties and stone performance of wet-grinding clay cement slurry under the action of admixture, a series of experimental studies considering the effects of super plasticizer content and water-solid ratio are carried out by using two high-efficiency water-reducing agents (benzene and polycarboxylate). The variation rules between the specific gravity of slurry, water evolution rate, fluidity, funnel viscosity, initial setting time, the compressive strength of stone body at 7day, 14day and 28day and the water reducer dosage are obtained. The results show that the water precipitation rate, fluidity and initial setting time of slurry increase with the increase of water reducer dosage, while the funnel viscosity and compressive strength of stone decrease with the increase of water-solid ratio. The slurry specific gravity is mainly affected by water-solid ratio, and decreases with the increase of water-solid ratio. The mixing of the water reducing agent can improve the pump ability of slurry, and the optimum dosage of water reducing agent should not exceed 1%. The research results can be used for reference in the design and construction of similar cement grouting materials.