Ferrochromium slag is a waste material obtained from the manufacture of ferrochromium (FeCr). This article reports the results of experiments, aiming to identify the properties of ferrochromium slag when it is used as an artificial aggregate for preparation of granular layers of flexible pavements. The experimental program consisted of two stages: (1) study of the physical and chemical properties of slag; (2) study of the mechanical properties of specimens made with ferrochromium slag and limestone as aggregate. Laboratory prepared cylindrical specimens were tested in repeated load triaxial (RLT) test apparatus, developed at Suleyman Demirel University, Turkey. In addition, particle size analysis, abrasion test, frost resistance, compaction test, California Bearing Ratio (CBR) test and leaching test were performed on the materials prior to RLT testing. The results indicate that the physical and mechanical properties of air-cooled ferrochromium slag are as good or better than those of natural aggregates. Therefore, FeCr slag and SiFeCr slag have potential to be used as a pavement base layer material in applications where crushed limestone aggregate materials are traditionally used.