For evaluating the resistance performance of cement-stabilized soils in cold regions, the variation of the strength of the cemented sand–gravel (CSG) mixture concerning the hydration process should be explored. This paper aims to study the effect of freeze–thaw (F–T) cycles on the strength and microstructure of a CSG mixture with 10% cement that is subjected to 12 cycles of freezing at a temperature of −23°C for 24 h and then melted at room temperature of 24°C for the next 24 h. The uniaxial compressive strength (UCS), California bearing ratio (CBR), and weight volume loss of the samples were measured after individual F–T cycles. Furthermore, the change in the microstructure of the CSG mixture in various F–T cycles was explored. The results showed a considerable reduction in the UCS up to Cycle 3, then a slight increase for Cycles 3–6, and finally a gradual decrease for further cycles. However, the CBR and weight loss slightly fluctuated up to Cycle 6, and then gradually decreased for subsequent cycles. The majority of compounds of hydrated cement were damaged in the first three cycles. In the following cycles, between Cycles 3 and 6, the portlandite compound was dissolved and recrystallized within the microvoids. Depending on the environmental conditions, carbonation may be generated from the hydrated cement fraction, which fills the microvoids and improves the strength and structure of the mixture. During further cycles after the sixth cycle, the mechanical action of the ice lenses coupled with the disintegration of the hydrate compounds imposed many new microvoids and cracks with considerable length and width, which intensified the strength reduction of the moisture and weakened the adhesion between grains. Since cement is widely used in pavement and dam engineering for stabilizing soils, the durability of cemented soils is of prime concern. This study may help improve the durability and resistance of cemented soils in cold climates. The F–T action not only influences the macrostructure of cement-stabilized soils by imposing a wide crack and ice lens but also induces a considerable change in the complexes existing in the hydrated cement paste of the mixture. Three patterns govern the change of the mixture microstructure in various F–T cycles that correspond to the observed trend in strength. The mentioned trend for the microstructure change and, consequently, the strength variation of the CSG mixture are associated with many factors such as pH, cement content, CO2 content, moisture content within the mixture, and relative humidity within the environment. Accordingly, the pattern of microstructural changes in the CSG mixture after the middle F–T cycles may vary depending on environmental conditions. [ABSTRACT FROM AUTHOR]