The purpose of this study is to understand a compressive strength and propose a dry shrinkage strain equation being able to predict dry shrinkage of alkali-activated materials(AAM) mortar samples manufactured using fly-ash(FA) and ground granulated blast furnace slag(GGBFS). The main parameters investigated were the GGBFS replace ratios(30, 50, 70 and 100%) and sodium silicate modules(Ms[SiO2/Na2O] 1.0, 1.5 and 2.0). The compressive strength of AAM increased with increases GGBFS replace ratios or Ms contents. The dry shrinkage strain of AAM decreased with increases Ms contents. But, the dry shrinkage strain of AAM increased as the GGBFS replace ratio increases. Therefore, the GGBFS replace ratio seems to have very significant and important consequences for the mix design of the AAM mortar. The results indicated the R-square of single regression analysis based on each mix properties was the highest value; 0.7539~0.9786(average 0.9359). And the presumption equation of dry shrinkage strain with all variables(GGBFS, Ms and material age) has higher accuracy and its R-square was 0.8020 at initial curing temperature 23 degrees Celsius and 0.8018 at initial curuing temperature 70 degrees Celsius.