SARAL/AltiKA (SRL) is the first altimetry satellite with a Ka-band altimeter. To validate the advantages of the Ka-band altimeter over traditional Ku-band altimeters in marine geodetic applications, a comprehensive analysis is carried out over the South China Sea (SCS) (0–30° N, 105–125° E) from three aspects, namely the influence of load on waveforms, the precision of sea surface heights (SSHs), and the precision of altimeter-derived marine gravity field. Coastal waveforms of SRL, Jason-2, and CryoSat-2 are separately compared with corresponding ocean-type waveforms. The radius of coastal influence on SSHs of SRL/exact repeat mission (SRL/ERM) is the smallest, being about 3 km. Crossover discrepancies, global mean sea surface models, and tide gauge data are used to assess the precision of altimetric SSHs. Compared with the SSH precision of Ku-band Jason-2/ERM, the SSH precision of Ka-band SRL/ERM is 4.6% higher over the SCS and 10% higher in offshore areas. Gridded gravity anomalies are derived from measurements of SRL/drifting phase (SRL/DP) and CryoSat-2 through the inverse Vening-Meinesz formula, respectively. According to the assessment by shipborne gravity data and global marine gravity models, the precision of SRL/DP-derived gravity is higher than that of CryoSat-2-derived gravity over the SCS, especially in offshore areas. In some cycles, ground tracks of SRL/ERM have large drifting of more than 10 km from nominal tracks. The results show that the Ka-band altimeter of SRL has better precision in SSHs and marine gravity recovery than the Ku-band altimeter over the SCS, particularly in offshore areas.