Eggshell (ES) and rice husk ash (RHA) were used in this study to develop an aluminum-based composite material. Physical and chemical parameters of the composite material, such as density, porosity, specific strength, and corrosion rate, have been examined by adding ES and RHA to the base material. The tensile strength and hardness of aluminum alloys have been improved by using waste materials, i.e., ESA and RHA. In addition to this porosity and corrosion rates have also been enhanced. The microstructural investigation has been also carried out to observe the wettability of reinforcement with base metal, i.e., Al alloy (AA-3105). The specific strength of base material AA3105 was 51.78 N-m/kg; however, after adding the reinforcements, i.e., AA3105/5% ES/5% RHA, the specific strength was found to be 67.004 N-m/kg. Results showed that specific strength improved by about 29.40% after the addition of 5% ES and 5% RHA in the AA3105. The theoretical density of the AA3105/5% ES/5% RHA was also found 3.07% lower than base aluminum alloy. Porosity percent and corrosion rate for same proportion (AA3105/5% ES/5% RHA) were found to be 0.13% and 0.44 mm/year, respectively. X-ray diffraction (XRD) of AA3105/5% ES/5% RHA composite showed the presence of Al, CaCO3, SiO2, and CaO, respectively, the presence of hard phases such as CaCO3, SiO2, and CaO are responsible for improving mechanical properties of base material, i.e., Al3105.