In the present scenario of global green environmental and sustainable management, the disposal of large volumes of coal-based ashes (fly ashes) generate significant environmental stress. The aim is to exploit these fly ashes for bulk civil engineering applications to solve societal-environmental issues employing sustainable measures. In this study, the addition of lime and/or gypsum in improving the geotechnical properties (hydraulic conductivity, compressibility, unconfined compression strength, lime leachability, and California bearing ratio) of fly ashes was investigated. To assist the practicing engineers in selecting the right mix of lime and/or gypsum for a given amount of fly ash for a specific application, a multi-criteria approach was adopted. The possible alternatives investigated included untreated fly ash, fly ash treated with lime (1%, 2.5%, 5%, or 10%), and a variation in gypsum dosage (1% or 2.5%) in the presence of lime. Sensitivity analysis was performed to recognize and resolve the conflicting advantages and disadvantages when mixing lime and gypsum. The study revealed that to derive the potential benefits of fly ash, it is essential to combine the lime dosage with gypsum for pavement and liner applications where bulk quantities of fly ash are employed.