Lightweight cementitious composite (LCC) produced by incorporating lightweight silica aerogel was explored in this study. Silica aerogel was incorporated as 60% replacement of fine aggregate (sand/crushed glass) in producing the LCC. The effect of aerogel on the drying shrinkage and alkali-silica expansion of LCC was evaluated and compared with those of lightweight expanded perlite aggregate. At the density of 1600 ± 100 kg/m3, the aerogel/ expanded perlite LCC had attained compressive strength of about 17/24 MPa and 22/26 MPa in mixtures with sand and crushed glass as a fine aggregate, respectively. The inclusion of aerogel and expanded perlite increased the drying shrinkage. The drying shrinkage of aerogel LCC was up to about 3 times of the control mixtures. Although the presence of aerogel and expanded perlite could reduce the alkali-silica expansion when partially replacing crushed glass, the aerogel-glass LCC still recorded expansion exceeding the maximum limit of 0.10% at 14 days. However, when 15% cement was replaced with fly ash and granulated blast furnace slag, the alkali-silica expansion was reduced to 0.03% and 0.10%, respectively. Microstructural observations also revealed that the aerogel with fly ash can help in reducing the alkali-silica expansion in mixes containing the reactive crushed glass aggregate.