The invention relates to anchoring mortar and an application method thereof. The anchoring mortar particularly comprises the following raw materials in parts by weight: 20-90 parts of cement or cement clinker, 5-70 parts of sand, 0.01-10 parts of an early strength agent, 0.01-8 parts of an accelerating agent, 0.01-10 parts of an interface binding agent, 0.01-10 parts of an interface penetrating agent, 0.01-10 parts of a micro-expanding agent, 0.01-10 parts of an acid-proof powder, 0.01-10 parts of an insulating property improving agent, 0-8 parts of a retarding agent, 0-8 parts of an air entraining agent, 0-8 parts of cellulose, 0-8 parts of a defoaming agent and 0.01-8 parts of a water reducing agent. Compared with the conventional spike anchoring material, the anchoring mortar has the advantages that the formula construction is simple and convenient, heating decoction is not needed, pollution is avoided, the early strength is high, the long-term strength does not shrink, the pulling resistance is high, and the insulativity is good; interference on railway signals by sleeper electric conduction can be prevented, and the driving safety can be ensured.