This study prepared a cement-based composite phase change material (CCPCM) that can be used as a filler for asphalt mixtures. A series of experiments were carried out to investigate the characteristics of CCPCM and its influence on the performance of asphalt mastic. In the matter of morphology, composition, particle size, and specific surface area, it is found that CCPCM particles were significantly different with limestone mineral filler that is usually used in asphalt mixtures. The thermal gravimetric result indicates that CCPCM could retain its original property in the process of hot mixing of asphalt mastic. In the light of the differential scanning calorimeter test, CCPCM and CCPCM-asphalt mastic had melting enthalpy as high as
, respectively. Indoor irradiation test results reveal that CCPCM is a promising material for cooling asphalt pavement. The multiple stress creep recovery test results verify that CCPCM could improve the rutting resistance of asphalt mastic. Furthermore, CCPCM could extend the fatigue life of asphalt mastic, according to the linear amplitude sweep test results. The preceding findings show that CCPCM cannot only play the role of heat storage but also improve the rutting and fatigue properties of asphalt mastic.