It will conform to the development goals of carbon peaking and carbon neutrality and sustainability to reutilize industrial by-products such as slag and recycled aggregate（RA） to fabricate alkali-activated slag recycled aggregate concrete（AARAC）. The effect of RA content and steel fiber volume fraction on the mechanical properties of AARAC were studied through 13 groups of basic mechanical property tests and the carbon emissions of raw materials in concrete were evaluated. The results show that the mechanical properties of AARAC with 75% RA content are comparable to those of ordinary Portland cement concrete. The negative effect of RA on the AARAC can be alleviated by the addition of steel fiber（SF）. In addition， the AARAC with 50% RA and 0.5% SF has excellent mechanical and sustainability performance. Finally， given the effect of RA content and SF volume fraction， equations are developed to predict the mechanical strength and elastic modulus of AARAC， whose calculated values fit the tested values very well.