Study has been carried out to apply fly ash as a high strength, water-resistant precast construction material through geopolymerization. Experiment results show that the working conditions such as water content, the concentration of NaOH, curing temperature and curing time, significantly affect the mechanical property of geopolymer matrix. Through optimization, an above 100 MPa compressive strength has been achieved with the geopolymerization products. Water soaking tests show that the geopolymerization product has a very high water resistance without losing noticeable compressive strength even after a one month soaking time. To elucidate the geopolymerization mechanism, microscopic techniques such as SEM/EDS and XRD are also applied to investigate the microstructure, the elemental and phase composition of geopolymerization products. The findings of the present work provide a novel method to apply fly ash as a high strength water-resistant precast construction material.