Microwave-activated crumb rubber(ACR)was prepared by microwave activation,diffe-rent asphalt binders were prepared by regulating the addition amounts of ACR and WCO with ACR as the modifier,WCO as the rejuvenator and aged asphalt(RA)as the raw material,and the effects of the addi-tion amounts of ACR and WCO on the basic techni-cal indexes of the asphalt binders,high-and low-temperature properties,anti-fatigue cracking perfor-mance and storage stability were investigated.In ad-dition,the mechanism of formation process of asphalt binders was also analyzed.The results showed that when the addition mass fraction of WCO was 7%and 10%of RA,and the addition mass fraction of ACR was 12%-25%of RA,WCO,as a rejuvenator,could not only effectively restore the performance of RA,but also promote the full swelling of ACR through the solubilization effect,thereby improving the compre-hensive performance of asphalt binders.With the in-crease in ACR addition amount,high-temperature permanent deformation resistance and anti-fatigue cracking performance of asphalt binders improved gradually;with the increase in WCO addition amount,low-temperature cracking resistance of as-phalt binders improved significantly.When the ad-dition mass fractions of ACR and WCO were 18%and 10%,respectively,the storage stability of as-phalt binder was the best.The ACR phase and RA phase in asphalt binder formed a tight"button"three-dimensional network structure,which reflected the excellent synergistic modification effect between ACR and WCO.