The use of concrete-recycled aggregates to produce high-performance concrete is limited by insufficient correlation between resulting microstructure and its influence on mechanical performance reproducibility. This work addresses this issue in a sequential approach: concrete microstructure was systematically analyzed and characterized by scanning electron microscopy and results were correlated with concrete compressive strength and water absorption ability. The influence of replacing natural aggregates (NA) with recycled concrete aggregates (RCA), with different source concrete strength levels, of silica fume (SF) addition and of mixing procedure was tested. The results show that the developed microstructure depends on the concrete composition and is conditioned by the distinct nature of NA, recycled aggregates from high-strength source concrete, and recycled aggregates from low-strength source concrete. SF was only effective at concrete densification when a two-stage mixing approach was used. The highest achieved strength in concrete with 100% incorporation of RCA was 97.3 MPa, comparable to that of conventional high-strength concrete with NA. This shows that incorporation of significant amounts of RCA replacing NA in concrete is not only a realistic approach to current environmental goals, but also a viable route for the production of high-performance concrete.