This study aimed to develop reference materials (RMs) that are chemically stable and can simulate the flow characteristics of cement paste. To this end, the candidate components of RMs were selected considering the currently required properties of RMs. Limestone, slag, silica, and kaolin were selected as substitutes for cement, while glycerol and corn syrup were selected as matrix fluids. Moreover, distilled water was used for mixing. To select the combinations of materials that meet all the required properties of RMs, flow characteristics were first analyzed. The results revealed that silica and kaolin exhibited bilateral nonlinearity. When an analysis was conducted over time, slag exhibited chemical reactions, including strength development. Moreover, fungi were observed in all mixtures with corn syrup. On the other hand, the combination of limestone, glycerol, and water exhibited a performance that met all the required properties of RMs. Thus, limestone, glycerol, and water were selected as the components of the RMs. When the influence of each component of the RMs on flow characteristics was analyzed, it was found that limestone affects the yield value, while the ratio of water and glycerol affects the plastic viscosity. Based on this, it was possible to select the mixing ratios for the RMs that can simulate the flow characteristics of cement paste under each mixing ratio. This relationship was established as an equation, which was verified under various mixing ratios. Finally, when the flow characteristics were analyzed under various temperature conditions, cement paste and the RMs exhibited similar tendencies in terms of flow characteristics. This indicated that the combinations of the selected materials could be used as RMs that can simulate the flow characteristics of cement paste with constant quality under various mixing ratio conditions and construction environment conditions.