In order to study the hydration mechanism and the performance of SJP time-varying slurry with the admixture 1#(cellulose-based solvents), 2#(synthesis of silicon calcium early strength agent)and 3#(amides stabilizer), by referring the temperature and the rate of temperature variation, the hydration heat contrast test between SJP time-varying slurry and neat cement paste was made and the hydration and hardening models of SJP time-varying slurry were constructed to reveal the mechanism of admixture 2# and 3# coordinating the cement to the secondary hydration and the basis of admixture content. By the contrast test, it is proved that SJP time-varying slurry has good viscosity time variation, good initial fluidity, good grouting property and controllable initial setting time and final setting time etc., the grouting effects should be superior to the traditional cement slurry in the strata where porosity and fracture develop and in dynamic water condition, SJP grouting material has been successfully applied in dealing with water gushing in excavation.