Large amounts of oyster shells are produced as a by-product of shellfish farming in coastal regions without beneficial use options. Accordingly, this study was conducted to evaluate the potential for the use of waste oyster shells (WOS) containing a high amount of CaCO₃ to improve soil quality and to stabilize heavy metals in soil. To accomplish this, an incubation experiment was conducted to evaluate the ability of the addition of 1-5 wt% WOS to stabilize the Pb (total 1,246 mg/kg) and Cd (total 17 mg/kg) in a contaminated soil. The effectiveness of the WOS treatments was evaluated using various single extraction techniques. Soil amended with WOS was cured for 30 days complied with the Korean Standard Test method (0.1 M·HCl extraction). The Pb and Cd concentrations were less than the Korean warning and countermeasure standards following treatment with 5 wt% WOS. Moreover, the concentrations of Cd were greatly reduced in response to WOS treatment following extraction using 0.01 M·CaCl₂, which is strongly associated with phytoavailability. Furthermore, the soil pH and exchangeable Ca increased significantly in response to WOS treatment. Taken together, the results of this study indicated that WOS amendments improved soil quality and stabilized Pb and Cd in contaminated soil. However, extraction with 0.43 M·CH₃ COOH revealed that remobilization of heavy metals can occur when the soil reaches an acidic condition.