Several major land reclamation projects such as the Inchon International Airport construction, Songdo New City construction, LNG Tank and LPG storage construction are underway along the coastal line of Inchon in Korea. This study was carried out to investigate the feasible use of waste lime in the land reclamation projects. Waste lime (hydrated lime) used in this study is produced as a by-product in the manufacturing process of $Na_2CO_3$ from local chemical factory in Inchon. This study presents the characteristics of bearing capacity and settlement on the ground formed by layers of waste lime and dredged soil. From the laboratory and in-situ plate load test, the ultimate bearing capacity by in-situ test was 1.25~1.37 times higher than that of the theoretical ultimate bearing capacity. Based on the settlement analysis by Magset- II, the total settlement of layered ground steadly increased up to the ratio of waste lime depth 0.2 and therefore rapidly increased with the increase of waste lime depth. The results of the present study indicate that the ratio of waste lime depth for reclamation work is about 0.2.