Phosphogypsum (PG) is a waste (or by-product) of the production of phosphoric acid, a basic constituent in the manufacturing of modern fertilizers. The annual production of phosphogypsum in Tunisia is currently estimated to be 10 million tons. Its storage in slag in close proximity to production plants generates pollution problems; however, valorization may be a solution. The present paper proposes a simple process for the valorization of this by-product into a construction material. Several physicochemical characterizations are used to prove the characteristics of samples. The chemical composition shows that PG is a gypsum compound with several impurities. The morphological analyses show that the powder materials are mesoporous with a lower specific area. The structural characterizations show that these solids play the role of a water pump as the degree of hydration changes from 2 to 0 and vice versa, depending on the temperature. Mechanical and thermal analyses show that the prepared formulation is brittle and insulating, which presents opportunities for it to be used as a decoration material.