Soil stabilization using lime is one of the largely recognized techniques for improving the properties of soft clays. Out of the many ways in which lime can be applied to the soil, the lime precipitation technique is one of the recently developed in-situ deep stabilization methods for stabilizing weak soils. Several researchers have found it as an effective method for deep stabilization for expansive or soft soil mass. However, the application of this method for the stabilization of marine clay is not much explored. This study aims to understand the effectiveness of the lime precipitation technique (LPT) in soft clay by conducting experimental investigations. Successive permeation of CaCl2 and NaOH into the soft clay at its natural moisture content leads to the precipitation of lime in the soil mass which then reacts with the soil forming cementitious compounds and strengthens the soil. The experiment was carried out by varying the amount of lime precipitated by changing the concentration of CaCl2 and NaOH solutions. The lime precipitation tests were carried out on soil samples by preparing UCS specimens and Atterberg samples at 35%, 50%, and 65% concentrations of CaCl2 and corresponding NaOH solutions. The changes in soil properties and unconfined compressive strength were tested after 24 h, 7 days, and 14 days curing period. The results are also corroborated with microstructural studies of lime-precipitated specimens.