The injectable hydrated calcium phosphate bone-like paste (hCPP) was developed with suitable rheological characteristics, enabling unhindered injection through standard 23G needles. In vitro assays showed the cytocompatibility of hCPP with mesenchymal embryonic C3H10T1/2 cell cultures. The hCPP was composed of aggregated micro-sized particles with sphere-like shapes and low crystallinity. The ability of hCPP particles to adsorb serum proteins (FBS) was investigated. The hCPP demonstrated high protein adsorption capacity, indicating its potential in various biomedical applications. The results of the in vivo assay upon subcutaneous injection in Wistar rats indicated nontoxicity and biocompatibility of experimental hCPP, as well as gradual resorption of hCPP, comparable to the period of bone regeneration. The data obtained are of great interest for the development of commercial highly effective osteoplastic materials for bone tissue regeneration and augmentation.