This study shows the effect of different types of internal curing liquid on the properties of alkali-activated slag (AAS) mortar. NaOH solution and deionized water were used as the liquid internal curing agents and zeolite sand was the internal curing agent that replaced the standard sand at 15% and 30%, respectively. Experiments on the mechanical properties, hydration kinetics, autogenous shrinkage (AS), internal temperature, internal relative humidity, surface electrical resistivity, ultrasonic pulse velocity (UPV), and setting time were performed. The conclusions are as follows: (1) the setting times of AAS mortars with internal curing by water were longer than those of internal curing by NaOH solution. (2) NaOH solution more effectively reduces the AS of AAS mortars than water when used as an internal curing liquid. (3) The cumulative heat of the AAS mortar when using water for internal curing is substantially reduced compared to the control group. (4) For the AAS mortars with NaOH solution as an internal curing liquid, compared with the control specimen, the compressive strength results are increased. However, a decrease in compressive strength values occurs when water is used as an internal curing liquid in the AAS mortar. (5) The UPV decreases as the content of zeolite sand that replaces the standard sand increases. (6) When internal curing is carried out with water as the internal curing liquid, the surface resistivity values of the AAS mortar are higher than when the alkali solution is used as the internal curing liquid. To sum up, both NaOH and deionized water are effective as internal curing liquids, but the NaOH solution shows a better performance in terms of reducing shrinkage and improving mechanical properties than deionized water.