This study proposed a new binder as an alternative to conventional cement to reduce the heat of hydration in mass concrete elements. As a main cementitious material, low-heat cement (LHC) was considered, and then fly ash (FA), modified FA (MFA) by vibrator mill, and limestone powder (LP) were used as a partial replacement of LHC. The addition of FA delayed the induction period at the hydration heat curve and the maximum heat flow value (qmax) increased compared with the LHC based binder. As the proportion and fineness of the FA increased, the induction period of the hydration heat curve was extended, and the qmax increased. The hydration production of Ca(OH)2 was independent of the addition of FA or MFA up to an age of 7 days, beyond which the amount of Ca(OH)2 gradually decreased owing to their pozzolanic reaction. In the case of LP being used as a supplementary cementitious material, the induction period of the hydration heat curve was reduced by comparison with the case of LHC based binder, and monocarboaluminate was observed as a hydration product. The average pore size measured at an age of 28 days was smaller for LHC with FA or MFA than for 100% LHC.