This study investigated on the early hydration and physical characteristics of BFS by pH variation. NaOH solution was used as a pH activator. In the range from pH 12 to pH 14, Experiment was compared the hydration propertied of OPC(Ordinary Portland Cement) and BFS(Blast Furnace BFS) and BFS containing 2 wt% of gypsum. It was found that CAH(Calcium Aluminate Hydrates) phases and CSH(Calcium Silicate Hydrates) phases were formed during the early hydration of BFS, and that CAH phases, CSH phases and ettringites were formed during the early hydration of BFS containing 2 wt% of gypsum. Furthermore, early hydration of BFS and BFS containing 2 wt% of gypsum were faster then OPC at pH 14, and the 1 day compressive strength of BFS increased by approximately 30% compared to OPC, and BFS containing 2 wt% of gypsum also increased by approximately 40% compared to OPC.